Tag Archives | International Monetary Fund (IMF)

Libyan Technocrats Agree Principles to Protect Oil Sector

Key Libyan institutions and representatives have agreed a set of principles aimed at reinforcing existing legal protections for the National Oil Corporation (NOC). Representatives of Libya’s National Oil Corporation, the Governor of the Central Bank of Libya (CBL), tribal and municipal representatives, the United Nations, the International Monetary Fund (IMF), major international oil companies, diplomats […]

IMF Comments in Dinar Devaluation

By John Lee. A new report from the International Monetary Fund (IMF) has said that the ongoing conflict in Libya has caused sharp depreciations in parallel exchange rates, reflecting security concerns and foreign exchange shortages. In its Regional Economic Outlook for the Middle East, the IMF adds that the country has improved regarding compliance with […]

Libya Experts Forum vows to support GNA

The Libya Experts Development Cooperation Forum vows to support the Government of National Accord providing policy advice The fourth meeting of the Libya Experts Development Cooperation Forum was held recently, bringing together Libyan academics, policy makers, prominent experts, entrepreneurs and the international community. The meeting – which was opened by Dr. Jaffar Hussain Syed (United […]

Forum on Libya’s Post-Conflict Recovery

Libyan Experts Forum Devises Ways to Contribute to Country’s Post-conflict Recovery A meeting of Libyan academics, prominent experts and business leaders convened in Tunis 11-12 October 2015 with a view to addressing the country’s socio-economic problems and exploring ways to contribute to post-conflict recovery under a future unity government. The Libya Experts Development Cooperation Forum […]

IMF Recognises Hibri as CBL Governor

The International Monetary Fund (IMF) has reportedly said it has recognises the central bank governor named by Libya’s internationally recognised government as its sole contact, and has ended ties with a rival bank chief in Tripoli. The Tobruk-based government dismissed the Tripoli-based governor Saddek Omar Elkaber [al-Sadiq al-Kabir] last year, leaving deputy governor Ali al-Hibri […]

NOC “Opens Books” to Oil Firms

Reuters reports that the National Oil Corporation (NOC) has opened its books to international oil firms to reassure them that payments for exported oil were not being used to fuel hostilities between rival factions. Among the companies that the NOC met last month were ConocoPhillips, Occidental Petroleum, Total, OMV, Eni and Statoil. The Tripoli-based company […]

GDP to Shrink this year, then Recover

By John Lee. A new report from the International Monetary Fund (IMF) has forecast that the Libyan economy will contract dramatically this year due to continuing civil war in the country. In its October World Economic Outlook, it says that Libya’s gross domestic product (GDP) is expected to shrink by 19.8 percent this year. The […]

Economy to Shrink by 5%

The International Monetary Fund (IMF) has re-confirmed that the Libyan economy is forecast to fall by 5.1 percent in 2013 due to the disruptions in oil production. Launching the IMF’s Regional Economic Outlook report in Dubai, Masood Ahmed (pictured), the IMF Middle East and Central Asia director, said the government will also experience a budget […]