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Libya's eastern parliament authorizes new reserve bank board of directors

storyp1> BENGHAZI, Oct 21 (Reuters) The presidency of Libya's easternbased parliament authorized on Monday the visit of a brand-new board of directors of the reserve bank, after a brand-new governor and his deputy were concurred last month, a parliament spokesman said.

Spokesperson Abdullah Belhaiq posted the decision on social networks platform X. The decision shows that the new board of directors consists of six members.

Naji Issa was approved last month by Libya's two legal bodies, your home of Representatives in eastern Benghazi and the High State Council in Tripoli, as the brand-new central bank governor changing Sadiq al-Kabir, who was ousted by the head of Tripoli-based Presidential Council, Mohamed Menfi. Mari Muftah Rahil Barrasi was authorized as deputy governor.

Menfi's relocation led to a crisis that has actually slashed the nation's oil output when the parallel administration in the east revealed in Aug. 26 the closure of production and exports in a demonstration.

After Issa's approval by the 2 bodies, the parallel administration announced the resuming of all oilfields. Then the state oil firm, National Oil Corporation (NOC), said in a declaration it had raised force majeure at all oilfields and terminals as of Oct. 3.

NOC said on Sunday the nation's petroleum and condensates output over the previous 24 hr reached 1,327,646 barrels daily.

Libya's oil output has been interfered with repeatedly in the disorderly decade given that the nation divided in 2014 in between 2 administrations in its east and west following the NATO-backed uprising that fell Muammar Gaddafi in 2011.


(source: Reuters)