On Tuesday, October 22, USLBA hosted a private meeting for member companies with the Governor of Libya’s Central Bank, Saddek ElKaber, and members of the Central Bank’s delegation to the Fall IMF Meetings in Washington, D.C. The productive event centered on banking, macroeconomic issues, and doing business in Libya.

Governor ElKaber opened the discussion by stating that – despite the challenges posed by the political divisions and ongoing conflict country – macroeconomic indicators in Libya are trending positively. Through targeted reforms, the CBL has alleviated the pressure on its reserves, improved Libya’s balance of payments, and helped to turn a budget deficit into a surplus as of 2018, the governor explained.

Governor ElKaber said American companies with commercial interests in Libya can count on the CBL’s support, and USLBA members likewise reiterated their commitment to the Libyan market and the Libyan people.

USLBA is grateful to have had the opportunity to meet with Governor ElKaber in Washington and to further strengthen economic ties between the U.S. and Libya.

On September 26, USLBA members and senior USG officials from the White House and State Department gathered in NYC for a productive discussion of the future of Libya’s economy with the Libyan delegation to UNGA.

The Libyan delegation, led by the President of the Presidential Council, H.E. Fayez Al Sarraj, also included Foreign Minister, H.E. Mohamed Siala; Ambassador of Libya to the United States, H.E. Wafa Bughaighis, and other senior advisors to the Prime Minister.

The USG officials who participated in the event include Dr. Victoria Coates, Deputy Assistant to the President & Senior Director for MENA Affairs; Rob Greenway, Special Assistant to the President & Senior Director for MENA Affairs; and Kurt D. Donnelly, USDOS Deputy Assistant Secretary, Bureau of Energy Resources. Six USLBA companies attended the meeting including ConocoPhillips, GardaWorld, GE, Hess Corporation, Hill International, and Motorola Solutions.

Many thanks to everyone who helped make this meeting possible! USLBA is glad to continue the tradition of bringing business leaders and government officials together on the sidelines of UNGA.