Libya’s Presidential Council Replaces Central Bank Governor

Libya’s presidential council has abruptly dismissed Central Bank Governor Sadiq al-Kabir, replacing him with Mohamed Abdul Salam al-Shukri, a former deputy governor. The council, aligned with Prime Minister Abdul Hamid Dbeibah’s government in western Libya, announced the change in a decree issued late Sunday.

Al-Kabir, who led the central bank since October 2011, has not yet commented on his removal. The central bank plays a crucial role in managing Libya’s vast oil revenues and foreign reserves, making the sudden leadership change particularly significant in the country’s ongoing political turmoil.

Libya remains deeply divided between a U.N.-supported government in Tripoli and rival authorities in the east, each backed by different armed groups and foreign governments. The central bank itself has been split along these political lines since 2014, with its internationally recognized headquarters in Tripoli and a parallel branch in Benghazi allied with military commander Khalifa Hifter.

Al-Shukri, the newly appointed governor, was previously named to the position by the east-based House of Representatives, but the decision was not implemented at the time. The same parliament recently rescinded that appointment earlier this month, raising further questions about the implications of this latest move by the presidential council.

Nneoma Udensi

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