On 10 August, the Libya Herald published an op-ed by Husni Bey on the controversial resignation of the governor of the Central Bank of Libya (CBL), Naji Essa. According to the author, the resignation request - which has yet to be accepted - has reopened one of the most sensitive questions facing the Libyan economy: is the problem fundamentally one of monetary-policy management, or has the Central Bank reached the point where it can no longer contain imbalances originating primarily in public finances, energy subsidies, and the way oil revenues are managed?
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