The UN-led Libyan economic dialogue, one of 3 tracks launched by the UN to help reach a ceasefire and political agreement, kicked off in Cairo earlier this week. The framework was recommended during the Berlin conference, and brought together representatives from 21 financial and banking institutions to discuss uniting sovereign economic intuitions, oil revenue distribution and the management of state resources.
The meeting took place as the first Geneva 5+5 meeting regarding the ceasefire ended without an agreement but with the sides agreeing to return to Geneva on February 18 for further talks.
On the second day of the meetings, the forum discussed establishing a Libyan Economic Experts Commission. The Cairo meeting led to an agreement whereby the commission would work with international organisations to ensure Libyan sovereignty regarding national economic institutions, assets and resources.
Some of the challenges discussed included facilitating banking transactions between the two sides of Libya, uniting competing economic institutions, battling corruption and instituting mechanisms to distribute wealth evenly, as well as reconstruction efforts.
This was the second round of economic talks, after the first was held in January in Tunisia. The political track dialogue group is set to meet on February 26.