This Selected Issues paper aims to present a medium-term reform strategy that could be pursued by Libya to accelerate its transition to a market economy. The paper reviews the main characteristics of the Libyan economy, and medium-term prospects under current policies. It examines the priority...

EXECUTIVE SUMMARY Context: The authorities are pursuing a wide-ranging economic reform program against a background of political liberalization. Challenges are formidable, however, as the authorities’ capacity to design and implement far-reaching reforms and absorb international assistance is...