logo
Libya, Japan agree to strengthen bilateral relations across various fields

Libya, Japan agree to strengthen bilateral relations across various fields

Libya Observer8 hours ago

Japanese State Minister for Foreign Affairs, Hisayuki Fujii, has met with the Chargé d'Affaires at the Libyan Embassy in Japan, Ahmed Al-Naas, to discuss bilateral relations between the two countries.
Japan's Ministry of Foreign Affairs stated that Minister Fujii welcomed the ongoing progress in bilateral relations since the reopening of the Japanese Embassy in Libya in January of last year.
For his part, Al-Naas expressed hope for strengthening ties between Japan and Libya across various fields, including through opportunities such as the upcoming TICAD 9 Conference. News Tagged: Japan

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Libya, Japan agree to strengthen bilateral relations across various fields
Libya, Japan agree to strengthen bilateral relations across various fields

Libya Observer

time8 hours ago

  • Libya Observer

Libya, Japan agree to strengthen bilateral relations across various fields

Japanese State Minister for Foreign Affairs, Hisayuki Fujii, has met with the Chargé d'Affaires at the Libyan Embassy in Japan, Ahmed Al-Naas, to discuss bilateral relations between the two countries. Japan's Ministry of Foreign Affairs stated that Minister Fujii welcomed the ongoing progress in bilateral relations since the reopening of the Japanese Embassy in Libya in January of last year. For his part, Al-Naas expressed hope for strengthening ties between Japan and Libya across various fields, including through opportunities such as the upcoming TICAD 9 Conference. News Tagged: Japan

UNSMIL invites youth in Ajdabiya, Al-Bayda, Derna, and Shahhat to discuss Advisory Committee options
UNSMIL invites youth in Ajdabiya, Al-Bayda, Derna, and Shahhat to discuss Advisory Committee options

Libya Observer

time8 hours ago

  • Libya Observer

UNSMIL invites youth in Ajdabiya, Al-Bayda, Derna, and Shahhat to discuss Advisory Committee options

The United Nations Support Mission in Libya (UNSMIL) has called on young people from the cities of Ajdabiya, Al-Bayda, Derna, Shahhat, and surrounding areas to take part in discussion sessions on the options and recommendations proposed by the Advisory Committee, and to share their concerns and suggestions. In a statement issued Thursday, the UNSMIL stated that the sessions are open to youth aged between 18 and 35. The consultations will be held at municipal headquarters as part of UNSMIL's 'Youth Participate' program, with sessions scheduled to take place in Ajdabiya on Monday, Al-Bayda on Tuesday, Derna on Wednesday, and Shahhat on Thursday. News Tagged: UNSMIL libyan youth

IMF warns of excessive spending in eastern Libya
IMF warns of excessive spending in eastern Libya

Libya Observer

time21 hours ago

  • Libya Observer

IMF warns of excessive spending in eastern Libya

The International Monetary Fund (IMF) has revealed that authorities in eastern Libya spent approximately 60 billion Libyan dinars in 2024 without including this expenditure in official financial statements. In a report published Thursday, the IMF stated that the high level of spending, coupled with the shutdown of oil fields due to conflict, shifted the country's fiscal position from a projected surplus to a significant deficit. The report noted that the absence of a unified budget and the sharp increase in public spending prompted the Central Bank of Libya to devalue the dinar by about 15% against the US dollar. The IMF stressed that corruption remains widespread, with weaknesses across the tax and customs systems, education and healthcare sectors, fuel trade, and procurement processes. It also highlighted the presence of illegal activities contributing to the fragility of the situation. It urged Libyan authorities to agree on a unified budget and prioritize spending to bolster fiscal stability and credibility. It emphasized the need to enhance transparency by preparing and publishing audited financial accounts and oil revenue reports online. The IMF recommended gradually unifying the exchange rate, removing the foreign currency tax and exchange restrictions, particularly in the absence of political consensus on reducing expenditure. The report also noted that weak political institutions have eroded public trust in the banking sector, leading to liquidity shortages as people hoard cash. While acknowledging that the Central Bank's move to inject new banknotes is positive, the IMF stressed that it does not address the root problem. It called for restoring public confidence in banks and enforcing anti-money laundering and counter-terrorism financing measures to support international banking relationships and economic stability. The IMF also underscored the need for comprehensive economic reforms to address obstacles facing the private sector, including the widespread informal economy, lack of regulatory frameworks, and limited access to financing and foreign currency. Finally, the report pointed out that armed groups continue to obstruct anti-corruption efforts, with some enjoying official status and actual control over certain areas.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store