Libya Central Bank Governor Resigns

The Central Bank Governor of Libya, Naji Issa, has submitted his resignation to the two rival legislative chambers in the country, according to documents seen by Reuters.

The documents, dated August 9 and confirmed as authentic by Issa, said he was unable to continue in the position but did not give a reason, citing the sensitivity of the matter. Issa confirmed the resignation letters to Reuters but declined to provide further details.

The letters were addressed to the heads of Libya’s two rival legislative bodies, the eastern-based House of Representatives and the western-based High Council of State. Neither chamber had responded to the resignation request as of Monday.

Libya has remained divided between rival authorities in the east and west since 2014, following years of political instability after the 2011 uprising that ended Muammar Gaddafi’s rule.

Issa became central bank governor in 2024 after the two legislative chambers agreed on his appointment to resolve a dispute over control of the institution. The dispute had led to the removal of former governor Sadiq al-Kabir and contributed to a sharp decline in Libya’s oil production and exports after eastern factions halted oil operations.

Issa’s resignation could create further uncertainty over the leadership of the central bank and the country’s divided political and economic institutions. The two legislative chambers had not publicly responded to his resignation as of Monday.

SOURCE: Reuters