The Address | Benghazi – Libya
PALERMO – Deputy Head of the United Nations Support Mission in Libya (UNSMIL), Stephanie Williams, delivered a speech on Monday to Palermo Conference Economic Working Group.
Williams spoke primarily about the violence that erupted in Tripoli late August and how UNSMIL was able to use those events to impose a new set of measures.
“Frustrations over the predatory behavior of armed groups, their exploitation of black market exchange rate system and government’s mismanagement of public finances were among drivers of Tripoli clashes.” said Williams.
She added, “Since the outbreak of violence in Tripoli, UNSMIL has relentlessly worked to challenge the status quo+push for measures that address political economy of predation. Parties to ceasefire agreement signed in Zawiya committed to a series of long-awaited economic reforms.”
“Since announcement of economic measures, a positive trend has been marked of increasing currency amounts in bank account deposits and a drop in the black-market exchange rate. More steps to be taken to sustain and continue reform measures.” said Williams.
“Overarching objective of financial audit review of Central Bank of Libya branches is to support political process through facilitating reunification of parallel economic and financial entities. Promoting financial accountability and building trust, review creates conditions conducive to unification.”said Williams.