Fayez Serraj calls on UN Security Council to form committee to audit Libyan finances

Alwasat - Cairo Wed 11 Jul 2018, 09:21 AM
alwasat radio

Libya Presidential Council Prime Minister Fayez Serraj  called on the UN Security Council to form an international committee to audit the financial transactions of the country's two divided central banks on Tuesday.

"We call on your esteemed council to urgently form an international technical committee, supervised by the United Nations and assisted by international financial and economic organizations, to audit all the revenues, expenditures, and transactions of the Central Bank in Tripoli and the Central Bank in al-Bayda (affiliated with Libya's Interim Gov't)," Serraj said in a letter addressed to the UN Security Council.

"We stress that this request serves the public interest. It also clarifies the truth about the whole financial situation to everyone, in order to reveal all previous expenditures by any institution without exception," Serraj said.

The Libyan eastern-based army, led by Khalifa Haftar, recently took control of the oil crescent region, which is located some 500 km east of the capital Tripoli and contains the country's largest oil ports, after defeating the militants occupying it.

Shortly after that, the army handed over the region to the National Oil Corporation of the eastern-based interim government, instead of the Tripoli-based UN-backed unity government.

The UN-backed government warned against "negative repercussions" of suspension of oil exports in the oil crescent region, saying halting oil exports could cost more than 67 million U.S. dollars a day.

Libya suffered losses over the past years of more than 140 billion dollars due to repeated closures of oil fields and ports, as well as low prices of oil in the global market.

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