Tripoli – The Ministry of Finance of the Government of National Unity announced the existence of significant sums of money held by a number of ministries outside the accounts of the General Treasury, confirming that these funds are being used for daily expenditures outside official frameworks.
The Ministry clarified that this practice represents a violation of the approved financial regulations, stressing the necessity of depositing all revenues into the General Treasury accounts at the Central Bank of Libya to ensure transparency and proper management of resources.
It affirmed that this step comes within the framework of its efforts to unify financial policies and control public spending, which aims to achieve financial stability and enhance confidence in the state’s economic institutions.
Tripoli
Tripoli is the capital and largest city of Libya, with a history dating back to the 7th century BC when it was founded by the Phoenicians. It later became a significant part of the Roman Empire, known as Oea, and has since been ruled by the Byzantines, Arabs, Ottomans, Italians, and finally achieved independence as part of modern Libya.
Ministry of Finance
The Ministry of Finance is a key government department responsible for managing a nation’s revenue, budget, taxation, and economic policy. Its history typically dates to the formation of the modern state, evolving from earlier treasury or exchequer offices to address the financial needs of governance, such as funding public services and managing national debt.
Government of National Unity
The Government of National Unity (GNU) is a political arrangement where rival parties, often after a conflict or deadlock, form a coalition cabinet to share power. It is most famously associated with post-apartheid South Africa, where Nelson Mandela led the first GNU from 1994 to 1997 to ensure a peaceful transition to majority rule. The term is also used historically for similar power-sharing governments in other nations, such as Lebanon and Zimbabwe.
General Treasury
The General Treasury is the central government treasury of Sri Lanka, located in Colombo. It was established during British colonial rule in the late 19th century, with its iconic main building completed in 1930. It remains the core institution for managing state revenue, public expenditure, and the national budget.
Central Bank of Libya
The Central Bank of Libya is the primary monetary authority of Libya, established in 1956 to manage the country’s currency and monetary policy. It has played a critical and often contentious role throughout Libya’s modern history, including during the Gaddafi era and the subsequent civil conflicts, where control of the bank and its assets became a point of major political and economic division.
