A group of Libyan leaders agreed to take part in a meeting to be held on Monday night in Sicily. Like other European nations, Italy wants to contain the threat of militants based in Libya from carrying out terror attacks on its territory.
Despite the Central Bank of Libya officially controlling the exchange rate, the black market in the country plays a big role in the country's currency transactions. Until hard currency is available for all Libyans, not just businesses, the black market will continue to operate.
Tripoli has been gripped by deadly tribal violence as militias vie for control of Libya's state funds and vast natural resources. The clashes have renewed once again, casting doubt over whether the planned Libyan Elections will take place later this year or not.
Presidential Council member Fathi al-Mijibri announced that the Presidential Council and the Central Bank of Libya have agreed on economic reforms that would fix the prices of fuel and foreign currency exchange rates in the market.