This Selected Issues paper provides an overview of the challenges facing the banking sector in Libya and puts forward reforms to strengthen financial stability and accelerate credit growth. Priority reforms are identified using the 2012 sound principles for effective supervision, issued by the...

This 2023 Article IV Consultation discusses that Libya's institutional framework has helped the country through a period of significant macroeconomic volatility and turmoil. There have been exceptional swings in oil production and revenues since 2011. The economy contracted sharply in 2020 due...

Middle East Technical Assistance Center (METAC) has arranged a two-phase capacity development (CD) for the Libyan Customs Administration (LCA) of the Libyan Ministry of Finance. The purpose of this mission is to assess the development status of the ASYCUDA World (AW) prototype piloted in the...

This Socialist People’s Libyan Arab Jamahiriya’s 2008 Article IV Consultation is focused on containing public expenditure to reduce inflation pressures, strengthening the monetary policy framework, and advancing financial sector reforms. Libya’s macroeconomic performance has been strong....

Libya remains a fragile state trapped in political uncertainty. Episodes of active conflict have become less frequent, but the country remains de facto divided between the West and the East and fragmented among various militias with competing objectives. The political economy constraints and...

This 2004 Article IV Consultation highlights that the Libyan economy remains largely state controlled and heavily dependent on the oil sector. Since the lifting of the Libya-specific trade sanctions of the United Nation and United States in September 2003 and September 2004, respectively, the...