Libyan Legislators Unite to Appoint Central Bank Governor, Potentially Stabilizing Oil Revenue

Libya's two legislative bodies, the House of Representatives in Benghazi and the High State Council in Tripoli, have agreed to appoint a central bank governor within 30 days. This move aims to resolve a dispute over control of the country's oil revenue, which has severely impacted production.

Libya's House of Representatives in Benghazi and the High State Council in Tripoli reached a significant agreement to appoint a central bank governor, potentially easing the ongoing control battle over the nation's vital oil revenue.

The two legislative chambers, recognized internationally in a 2015 political agreement, signed a joint statement after two days of U.N.-hosted talks. This resolution comes amid years of conflict since the 2011 NATO-backed uprising and the 2014 division between eastern and western factions.

Both chambers also agreed to extend consultations, aiming to unify the fractured political landscape. The move follows a standoff caused by an attempt to oust the central bank governor last month, which led to a shutdown in oil production but has since seen partial recovery.

(With inputs from agencies.)