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GNU freezes spending of state investment funds and companies

The new unity government in Libya called the Libyan Government of National Unity (GNU) to introduce a freeze to all transactions across Libya's funds, excluding staff salaries.

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The new unity government in Libya, also called the Libyan Government of National Unity (GNU), introduced a blanket freeze to all transactions across Libya’s funds, excluding staff salaries. With this, the new interim Prime Minister, Abdulhamid Dbeibeh, intends to ensure the avoidance of suspected corruption. The audit bureau’s annual report provoked this decree revealing the widespread mismanagement and corruption in Libya’s public sector.

However, this decree is expected to create some chaos too. The decision will affect the controversial contracts involving the country’s leading investment bodies, which the audit bureau accuses of mismanagement. The report also revealed how LIA management members were taking multiple salaries by being in different positions.

The interim Prime Minister pledged to unite the divided Libyan nation. A United Nations supervised process is working to unite the country. Dbeibeh pledged to represent all Libyans. He requested all the Libyans to move beyond their past and enter into a period of national reconciliation.

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