Thu. May 30th, 2024

The Minister of Finance in the outgoing Government of National Unity, Khaled Al-Mabrouk, announced that Libya is seeking to settle its debts owed to African countries.

During his recent meetings with the finance ministers of those countries, they discussed ways to enhance joint cooperation and settle outstanding debts.

The Libyan Ministry of Finance confirmed that the meetings, which took place last Wednesday on the sidelines of the annual meetings of the Bank Group and the International Monetary Fund in Marrakech, led to results that will contribute to increasing the level of foreign debt collection in favor of Libya.

In addition to Congo-Brazzaville, Central Africa, and Burkina Faso, other countries owe Libya varying amounts, and the Libyan government has already begun to recover small percentages of these debts.

Separately, Khaled Mabrouk discussed with Mauritanian President Mohamed Ould Cheikh Ghazouani issues related to the settlement of debts owed to Libya.

Libya has agreed with Nicaragua to schedule debts due in semi-annual installments, as well as with Montenegro to pay off its $4 million debt to Libya.

Congo-Brazzaville also promised its commitment to repay its 10 billion euros debt, representing 98 percent of its GDP, and Chad’s 1995-2009 debt was scheduled.

Libya celebrates its World Heritage by issuing stamps featuring its archaeological sites

Related Post