Tag Archives | Audit Bureau

Foreign Reserves Fall Sharply

The Tripoli-based Libyan Audit Bureau (LAB) has said that the Central Bank's foreign reserves fell from $105.9 billion at the start of 2014 to just $76.6 billion at the end of the year. In its report for 2014, the LAB warns that the dramatic fall in oil revenues, combined with continued spending, could mean that […]

New Body to Shake up Bureaucracy

Libya's General National Congress has approved the creation of a new body to cut through red tape and improve the performance of the country’s bureaucracy. According to a report from Libya Herald, the Administrative Control Authority (ACA) was first mooted by congressmen frustrated by the inability of the existing Audit Bureau to influence control the […]