Press Statement – Chargé d’Affaires, ad interim Stephanie Williams – June 5, 2018

Libya Economic Dialogue Joint Statement on behalf of the Ambassadors of France, Germany, Italy, the United Kingdom, the United States, and the European Union

With my colleagues from France, Germany, Italy, the United Kingdom, and the European Union, I would like to thank Deputy Prime Ministers Fathi Majbiri and Ahmed Maiteeg for hosting this, the eighth meeting of the Libya Economic Dialogue.  We congratulate the Libyan participants for their work to formulate a budget and coordinate on fiscal and monetary policy.  We are pleased by the participation today of representatives from the Ministries of Finance and Planning, the Central Bank of Libya, the Libyan House of Representatives, the High State Council  and the National Oil Corporation.  With the consolidated national budget for 2018 in place, the institutions that matter most to the daily lives of Libyans are in a place to receive funding, including schools and universities, community health centers and clinics, and municipal services like water and electricity.  The next step will be to ensure that budget disbursements are made on a consistent basis and with full transparency, so that the Libyan people receive the crucial services they deserve.

The international community represented here today by the U.S., British, French, German, Italian, European Union, IMF, World Bank, and UN missions to Libya all share a concern for the economic situation in Libya, the critical importance of economic stability, development, and stronger growth, and the importance of government institutions to deliver public services to Libyan citizens.  Economic reform is not easy under any circumstances.  The challenges Libya currently faces are particularly difficult, but this makes reform even more essential.  Structural changes are necessary to stabilize Libya’s economy, put your country on the path to prosperity, and address the daily hardships that Libyans continue to face.  We are encouraged by the commitment of Libya’s political and economic leadership to address these challenges and reach agreement on the financial arrangements, but more must be done to address exceptionally difficult circumstances Libyans continue to face on a daily basis.

We believe that progress on economic reforms will support stabilization and improve the lives of all Libyans.  We urge institutions and communities to come together to protect Libya’s natural resources and distribute Libya’s wealth fairly to communities making legitimate demands for basic infrastructure and services.

With elections on the horizon, the Libyan people will be able to exercise their voice and vote for leaders who can be good stewards of Libya’s wealth.  We urge all political leaders, ministers, and Libyan government officials entrusted with public resources to manage them judiciously, increase transparency, and minimize fraud, waste, and abuse of power.  As noted in the 29 May 2018 Paris declaration, Libya’s institutions, including the Central Bank, must unify in order to effectively implement the change the country requires.

Lastly, I want to thank our colleagues from the international community, International Monetary Fund, and World Bank for supporting and providing their expertise and feedback on Libyan economic policy.  Your participation today reaffirms the international community’s efforts, led by UN Special Representative of the Secretary-General for Libya Dr. Ghassan Salamé, to build a more secure, stable, and prosperous future for all Libyans.