The Governor of the Central Bank of Libya, Seddiq Al-Kabeer, concluded consultations with the International Monetary Fund (IMF) on Friday in the Tunisian capital. The meeting was attended by representatives of the IMF, the President of the Audit Bureau, Ministers of Finance, of Planning, of Economy, of Trade, of Labor, and of Rehabilitation in the Government of National Unity, in addition to representatives from the National Oil Corporation.
According to the official website of the Central Bank, the IMF mission praised the development of the Central Bank of Libya’s systems and information platforms to reduce banking risks, increase transparency procedures, and implement anti-money laundering systems. The IMF noted that 2022 witnessed an improvement in macroeconomic indicators, and the stability of oil production and exchange rate policy contributed to the overall economic improvement.
The IMF mission emphasized the importance of diversifying sources of income and not relying solely on oil as a source of spending, and the need to implement reforms in the area of support, especially in fuel subsidies.
