U.S. Treasury Secretary Steven Mnuchin calls for the reform of Libya’s financial system

During a meeting with the President of the Presidential Council Fayez Al-Sarraj in Washington, U.S. Treasury Secretary Steven Mnuchin expressed his regret over the economic “suffering” of Libyans.

According to the official page of the GNA Mnuchin stressed the need for reforms of the banking and financial systems in Libya. He added that the United States  intends to provide assistance to “restore confidence” in the Libyan banking system.

On the other hand, Al-Sarraj said that the division of the Central Bank of Libya exacerbated the financial crisis and that its’ unification is necessary in order to overcome the crisis. He explained that he called the Board of Directors of the two banks in Tripoli and Benghazi for an “urgent” meeting aimed at reaching a unified monetary policy dealing with the financial and banking crises.

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