Naji Mohammed Issa Belqasem

Stories

Libya connects its banks to China's yuan payment network

As of July 2026: Led Libya's delegation in Beijing to finalize CIPS access

For years, a Libyan bank paying a Chinese supplier had to send the money through a US dollar bank first. This week, Libya's central bank agreed to skip that step.

Updated Jul 19

Libya signs first unified state budget in 13 years as US brokers fiscal reunification

Rule Changes

As of May 2026: Overseeing unified budget implementation

Libya has not had a single national budget since 2013, with two rival governments—one in Tripoli, one in the east—spending the country's oil wealth through separate, competing channels with no shared oversight. On April 11, 2026, representatives of both legislatures signed a US-mediated agreement on a unified 190 billion Libyan dinar (roughly $30 billion) budget covering four categories of state spending: salaries, development, subsidies, and operations.

Updated May 31