🇱🇾LibyaNorth Africa
Libya urged to adopt proactive economic policies amid regional tensions
via Libya Herald2 min read
Dr. Mahmoud Al-Futaisi, head of the National Economic and Social Development Board NESDB, stated that Libya must adopt proactive economic policies to counter the repercussions of regional tensions. This statement followed a dialogue session organized by the NESDB in Tripoli, titled “Proposed Economic Policies in Light of Escalating Tensions in the Arabian Gulf Region.” Al-Futaisi emphasized that rapid geopolitical developments necessitate a more flexible and proactive economic approach for Libya, noting that escalating tensions in the Arabian Gulf could impact energy markets and global supply chains. He stressed the importance of early preparation and developing economic scenarios due to the Libyan economy's interdependence with international markets. Dialogue among official institutions, the private sector, and experts is crucial for formulating policies to enhance national economic resilience and mitigate risks from regional and international changes. The session discussed the potential repercussions of the crisis on Libya's economy, particularly in energy, foreign trade, and supply chains, and reviewed economic scenarios, challenges, and opportunities. Recommendations included strengthening the economy's adaptability to international changes, enhancing institutional coordination, and adopting flexible policies for economic stability and sustainable development. The session included representatives from legislative and executive institutions, business associations, chambers
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Libya Herald.
Must ReadArmed clashes and exchanges of fire in the city of Zawia intensified, affecting areas near the Zawia Oil Refinery complex. The refinery reported that heavy caliber shells fell within its compound, reaching operating areas. This necessitated an emergency shutdown of the refinery and the evacuation of tankers from the port to ensure safety. The Libyan Red Crescent branch in Zawiya received distress calls from citizens, noting widespread anxiety and panic due to the clashes. The Zawia Security Directorate, representing the Tripoli-based Libyan government, launched a security operation against outlaw hideouts, urging citizen cooperation and warning wanted individuals against resistance. Zawia is described as a politically polarized city, with this polarization contributing to a security vacuum exploited by various groups involved in illicit trade.
Must ReadThe African Development Bank AfDB has expressed a strong desire to support the Libya Africa Investment Portfolio LAIP's Two Transit Corridors Project. The AfDB's offer includes mobilizing international funding from donors to secure partial or full financing for the project's technical and economic studies and subsequent phases. This offer followed a meeting on May 6 between LAIP's High Committee for the project and an AfDB delegation led by Malin Blomberg, the Bank’s Deputy Director, at the Land Transport Authority of the Tripoli-based Libyan Ministry of Transport. The meeting highlighted the project's strategic importance and its potential to enhance transportation, logistics, and connectivity among African nations. Both parties agreed to continue coordination, cooperation, and the exchange of technical data to advance the project.
The Attorney General’s Office in Libya has launched an investigation into alleged illicit financial benefits from banking operations at Al-Wahda Bank’s Souq Al-Thulatha branch. The Anti-Corruption Prosecution, under the Tripoli Court of Appeal, is examining information related to the collection of US$2.8 million in documentary credits without the corresponding deposit of Libyan dinars. Authorities have ordered the detention of the official responsible for managing documentary credit affairs at the time of the transaction and a representative of the company that benefited from the alleged fraud. Other participants in the incident are also being sought for questioning. Separately, Libya's Administrative Control Authority ACA continues to receive complaints and reports from citizens and residents through its Raqeeb whistleblowing website, aiming to enhance transparency and legal accountability while protecting whistleblowers.
Al-Hadba Al-Khadra General Hospital in Libya successfully performed the country's first wireless pacemaker implantation on a patient with a slow heart rate. This procedure, part of the Ministry of Health's 100-day Plan, marks a significant medical milestone for Libya and is the eighth such implantation on the African continent. The Ministry of Health highlighted that this achievement demonstrates the efficiency of Libyan medical staff in utilizing advanced wireless pacemaker technology, which is implanted directly into the heart without traditional wires, thereby reducing risks and accelerating patient recovery. This initiative reflects the Ministry's commitment to developing the healthcare sector and improving services for Libyan citizens, underscoring the positive impact of investing in national medical expertise and providing a suitable technical environment.