Eastern Libya approves central bank board of directors

The presidency of Libya's eastern-based parliament approved on Monday the appointment of a new board of directors of the central bank, after a new governor and his deputy were agreed last month, a parliament spokesperson said.

Spokesperson Abdullah Belhaiq posted the decision on social media platform X. The decision shows that the new board of directors includes six members.

Naji Issa was approved last month by Libya's two legislative bodies, the House of Representatives in eastern Benghazi and the High State Council in Tripoli, as the new central bank governor replacing Sadiq al-Kabir, who was ousted by the head of Tripoli-based Presidential Council, Mohamed Menfi.

Mari Muftah Rahil Barrasi was approved as deputy governor.

Crude output increases

Menfi's move led to a crisis that has slashed the country's oil output when the parallel administration in the east announced in August 26 the closure of production and exports in a protest.

After Issa's approval by the two bodies, the parallel administration announced the reopening of all oilfields.

Then the state oil firm, National Oil Corporation (NOC), said in a statement it had lifted force majeure at all oilfields and terminals as of October 3.

NOC said on Sunday the country's crude oil and condensates output over the previous 24 hours reached 1,327,646 barrels per day.

Libya's oil output has been disrupted repeatedly in the chaotic decade since the country divided in 2014 between two administrations in its east and west following the NATO-backed uprising that toppled Muammar Gaddafi in 2011.

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