Central Bank Governor Seeks IMF Assistance to Stabilise Economy

Naji Issa, Governor of the Central Bank of Libya (CBL), has held discussions with International Monetary Fund (IMF) officials this week on the sidelines of the IMF and World Bank annual meetings.

The talks centred on continuing Article IV consultations to assess the Libyan economy and provide recommendations for reform.

Mr Issa outlined the CBL’s immediate priorities, which include bolstering the Libyan dinar, regulating the foreign exchange market, ensuring liquidity in the banking system, and expanding electronic payment systems.

The IMF mission will conduct a comprehensive assessment of the Libyan economy, including data quality, macroeconomic indicators, and the governance framework of the banking sector.

This evaluation is expected to inform future policy decisions aimed at stabilising the Libyan economy.

The IMF’s expertise and financial support could prove crucial in navigating these challenges and fostering sustainable economic growth.