Representatives of Libya's rival eastern and western legislative bodies, in talks facilitated by the United Nations, signed an agreement on Thursday to end a crisis over leadership of the central bank,

A standoff over control of the bank had destabilized the country’s economy and raised the prospect of fresh fighting between Libya’s eastern and western factions.

Libyan factions agreed to appoint a new central bank governor, paving the way for a resolution to a row that’s slashed the OPEC nation’s oil output.

Delegates from divided Libya's east and west have agreed on procedures, criteria and timelines for appointing a governor, deputy governor and board of directors for the country's central bank, the United Nations Libya mission (UNSMIL) said on Wednesday in a statement.

Libyan factions agreed to appoint a new central bank governor, paving the way for a resolution to a row that's slashed the OPEC nation's oil output.

Delegates from divided Libya's east and west have agreed on procedures, criteria and timelines for appointing a governor, deputy governor and board of directors for the country's central bank, the United Nations Libya mission (UNSMIL) said on Wednesday in a statement.

Libya’s factions reached a “compromise” on appointing new leadership for the OPEC member’s central bank, the United Nations said, an initial step toward eventually resolving a crisis that’s slashed oil output.