UN Hosts Talks to Resolve Libya Bank Crisis

The United Nations Support Mission in Libya (UNSMIL) facilitated crucial talks in Tripoli aimed at resolving the ongoing central bank crisis that has led to a blockade of oil production in the country. The discussions involved representatives from Libya's House of Representatives, the High Council of State, and the Presidential Council, and concluded with significant agreements on addressing the crisis. Both factions agreed to present a draft agreement for legislative review, with hopes of finalization by Tuesday. The crisis began when Western factions attempted to oust central bank governor Sadiq Al-Kabir, leading to a severe oil production halt by Eastern factions in protest. This situation threatens Libya's economy, as the central bank is vital for managing oil revenues and state salaries. The ongoing tensions underscore the deep divisions within Libya since the 2011 uprising that ousted longtime ruler Moamer Kadhafi.