Monday, June 30, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Economy

IMF Predicts Libyan Prices & Inflation will Rise

April 27, 2022
Share on FacebookShare on Twitter

The International Monetary Fund (IMF) expected that the prices and inflation rates will continue to rise in Libya and the Arab region during 2022.

According to the data of the World Economic Outlook released in April, the inflation rate in Libya will reach 3.7% in 2022.

The report said that the Libyan economy will grow by the end of this year, at a rate ranging from 3.5 to 5.3%. It pointed out that Iraq will record the fastest economic growth in the Arab region, estimated at 9.5%.

Notaby, the data of the Central Bank of Libya (CBL) for last December showed an increase in the inflation rate in Libya by 4.1%, amid a noticeable increase in the prices of goods in the country.

Last month, the IMF warned of Libya’s need to structurally reform its economic system. This comes amid fears of the consequences of the Ukrainian crisis, and global inflation after the COVID-19 epidemic.

The IMF’s recommendation came during a recent meeting with officials from the CBL.

Sources told Sky News that IMF officials urged the CBL to take measures that would end the duplication of international currency rates. It added that this has caused the leakage of hard currency, resulting in the Libyan state suffering huge losses.

The sources also referred to the IMF’s recommendation to adopt more disciplined and firm monetary mechanisms. These would allow for a real confrontation of corruption, and improve banking supervision procedures. It would also open the door for discussions with other state institutions to assess financial and commercial policies, and the economic situation in general.

  • Libyan Economist Reminds Monetary Stability Tops CBL’s Duties
  • IMF Calls on Libya to Tackle Corruption
  • Turkey, IMF and WB Accused of Interfering in Libyan Economy
  • Libya’s Interim Government to Secure Prices of Goods
  • WHO: Coronavirus Test Rates in Libya Still Below Desired Threshold
Tags: Arab RegionIMFInflationlibyaLibyan Prices
Next Post

Bashagha Calls for Libya's Oil Exports to Resume

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

Italy Warns of New Security Threat from RSF Presence in Southern Libya

Libya to Enforce ID Registration for All Foreign Nationals

Haftar Holds Talks with Egypt’s El-Sisi on Libya’s Stability

Libyan Suspect Faces Lockerbie Charges After DNA Discovery

Libyans Demand UN Mission Exit Over Political Paralysis

UN Libya Launches 250 Projects for Development in 2024

EDITOR PICKS

Greek Navy Joins EU Push to Stop Migration from Libya

Libyan Official Blames UNSMIL for Delaying Elections & Unity

Libya’s Central Bank Governor Calls for Ban on Non-Banking Imports

NIHRL Holds Libyan Government Responsible for Ceasefire Breach

Inflation Deepens Libya’s Economic Hardship

Haftar Holds Talks with Egypt’s El-Sisi on Libya’s Stability

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR