Fidan Meets Libya's el-Menfi: Critical Step for African Financial Stability

Foreign Minister Hakan Fidan met with Libya's Prime Minister Council Chairman Muhammed el-Menfi to discuss pathways out of the country's economic crisis. The meeting was seen as a critical step to boost Libya's international financial support and revitalize its local capital markets. Fidan reaffirmed Turkey's support in Libya's reintegration into international financial systems. A roadmap was presented to align Libya's NIM (Net Interest Margin) and SYR (Capital Adequacy Ratios) with global standards. The outcome included a set of financial reform proposals aimed at enhancing Libya's access to international capital markets. The meeting drew attention from the international financial community as Libya's economic crisis since 2023 seeks resolution.

The innovations in Libya's financial system will shape the country's future growth potential as Africa's largest economy. Turkey's support for Libya's financial reforms is a significant step toward ensuring regional stability.