The International Monetary Fund (IMF) has stressed the need for Libyan authorities to agree on priority spending via a unified budget for 2025. Following its meetings with the Central Bank of Libya, the IMF released a report emphasizing the importance of fiscal consensus and targeted expenditure to enhance economic stability.
The report commended the resolution of the leadership dispute at the Central Bank of Libya, noting its role in facilitating access to foreign currencies and alleviating local currency liquidity shortages. “We welcome the resolution of the leadership dispute at the Central Bank of Libya and support its efforts to facilitate access to foreign currencies and alleviate local currency liquidity shortages,” the IMF stated.
The IMF expressed anticipation of continued collaboration with the Central Bank and other Libyan authorities to advance a more organized process that boosts stability and governance within the country.
Discussions with Libyan officials also covered the disruption in oil production in August and September, with a review of the expected growth in GDP and the financial and external balances for 2024.
