Libya’s central bank governor resigns without explanation

A worker fills the tank of a lorry with more than two thousands liters of gas-oil, at 1,26 euros per liter, at a gas station of Lanz, northern Spain, Monday, Feb. 28, 2011. - Copyright © africanews Copyright 2011 AP. All rights reserved. Last updated: 37 minutes ago Libya The governor of Libya's central bank, Naji Issa, has resigned without giving a reason, several reports said on Monday. Private TV channel Al-Ahrar said Issa had confirmed his resignation. Issa and vice-governor Miree al-Barasee were appointed by Libya's parliament, which is based in the east of the divided country, in September 2024. His appointment was part of a deal backed by the United Nations that ended a standoff over Libya's oil production and a deep financial crisis. Libya is still struggling to recover from years of conflict after the 2011 NATO-backed uprising that overthrew longtime dictator Muammar Gaddafi. It remains split between the UN-recognised government of Prime Minister Abdulhamid Dbeibah in the west and a rival authority in the east backed by military strongman Khalifa Haftar. Issa succeeded Seddik al-Kabir, who officials close to Dbeibah had criticised over his management of the bank and state funds, saying he favoured the eastern-based rival administration. After Kabir was removed in August 2024 by the Tripoli authorities, the Benghazi-based administration ordered declared force majeure, suspending all oil production and exports. The shutdown cut Libya's oil output by half to about 600,000 barrels per day, according to the state-run National Oil Corporation. Most of Libya's revenue comes from its oil resources, with the country's production mainly in the east and south -- areas controlled by forces loyal to Haftar. The parliament did not immediately comment on Issa's resignation. You may also like