IMF Recognises Hibri as CBL Governor

The International Monetary Fund (IMF) has reportedly said it has recognises the central bank governor named by Libya's internationally recognised government as its sole contact, and has ended ties with a rival bank chief in Tripoli.

The Tobruk-based government dismissed the Tripoli-based governor Saddek Omar Elkaber [al-Sadiq al-Kabir] last year, leaving deputy governor Ali al-Hibri in charge, but Elkaber continued working in the Tripoli bank headquarters.

According to the report from Reuters, the IMF and western countries dealt with both bankers, trying to forge a joint budget; the Tripoli-based bank has sought to stay out of the conflict by refusing to approve expenditures for either government and limiting spending to public salaries and subsidies.

Hibri set up a new bank headquarters in the east but has failed to convince oil clients to pay though its accounts as ownership proof for oil assets are stored in the capital.

An IMF spokeswoman told Reuters:

"The international community ... recognises the HoR as the only legitimate authority in Libya ... In line with established Fund procedures, Mr al-Hibri was recognised as Libya's governor for the Fund."

(Source: Reuters)

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