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Libyan Parliament Fires Central Bank Chairman Libyan Parliament Fires Central Bank Chairman
(3 days later)
BAGHDAD — Libya’s newly elected Parliament voted on Sunday to fire the chairman of the central bank, setting off a struggle for control of the country’s wealth and vast oil reserves. BAGHDAD — Libya’s newly elected Parliament voted on Sunday to fire the chairman of the central bank, setting off a struggle for control of the country’s wealth and vast oil reserves.
The central bank, which holds more than $100 billion in foreign cash reserves and investments, has so far remained aloof from the chaos that has steadily engulfed Libya since the ouster of Col. Muammar el-Qaddafi in 2011.The central bank, which holds more than $100 billion in foreign cash reserves and investments, has so far remained aloof from the chaos that has steadily engulfed Libya since the ouster of Col. Muammar el-Qaddafi in 2011.
But Libya’s oil riches have always been the unstated stakes behind the strife, and now two rival coalitions of cities, tribes, militias and factions have squared off in a nationwide conflict. One side, which includes some Islamist groups, has seized control of the capital, Tripoli. The other side is aligned with the new Parliament, convening in the eastern city of Tobruk.But Libya’s oil riches have always been the unstated stakes behind the strife, and now two rival coalitions of cities, tribes, militias and factions have squared off in a nationwide conflict. One side, which includes some Islamist groups, has seized control of the capital, Tripoli. The other side is aligned with the new Parliament, convening in the eastern city of Tobruk.
The bank’s chairman, Sadel Omar el-Kaber, a respected veteran of several international banks who was appointed by the Western-backed transitional government after Colonel Qaddafi fell, had sought to remain neutral. “The central bank is the last line of defense of state institutions and it is very important that it stays far away from political struggles,” the bank said in a statement at the beginning of the month. The bank’s chairman, Sadik Omar el-Kaber, a respected veteran of several international banks who was appointed by the Western-backed transitional government after Colonel Qaddafi fell, had sought to remain neutral. “The central bank is the last line of defense of state institutions and it is very important that it stays far away from political struggles,” the bank said in a statement at the beginning of the month.
But a dispute arose over a request by the new Parliament for a payment from the bank of $65 million, according to a lawmaker, speaking on the condition of anonymity for the safety of family members still living in Tripoli. The Parliament accused Mr. Kaber of blocking the transfer, and lawmakers said that members who were present had voted by 95 to 1 to remove him.But a dispute arose over a request by the new Parliament for a payment from the bank of $65 million, according to a lawmaker, speaking on the condition of anonymity for the safety of family members still living in Tripoli. The Parliament accused Mr. Kaber of blocking the transfer, and lawmakers said that members who were present had voted by 95 to 1 to remove him.
The full Parliament is 200 seats, and what coalition or faction of lawmakers might ultimately control it has never been determined. It was elected earlier this year, but about 20 seats were left empty because threats of violence had obstructed the voting.The full Parliament is 200 seats, and what coalition or faction of lawmakers might ultimately control it has never been determined. It was elected earlier this year, but about 20 seats were left empty because threats of violence had obstructed the voting.
Other lawmakers have boycotted Parliament since the chamber’s initial leader — chosen by age — convened it in Tobruk, territory controlled by a renegade general who had called for a coup to purge the country of Islamists. Transportation difficulties caused by the unrest may have lowered attendance as well.Other lawmakers have boycotted Parliament since the chamber’s initial leader — chosen by age — convened it in Tobruk, territory controlled by a renegade general who had called for a coup to purge the country of Islamists. Transportation difficulties caused by the unrest may have lowered attendance as well.
Mr. Kaber could not be reached for comment. The lawmaker said Mr. Kaber had not been accused of personal corruption, only of obstructing Parliament to favor the rival faction.Mr. Kaber could not be reached for comment. The lawmaker said Mr. Kaber had not been accused of personal corruption, only of obstructing Parliament to favor the rival faction.
A person associated with the bank who supports Mr. Kaber accused Parliament of forcing him out in order to use the bank as a weapon, potentially to finance its side of the factional conflict.A person associated with the bank who supports Mr. Kaber accused Parliament of forcing him out in order to use the bank as a weapon, potentially to finance its side of the factional conflict.