CBL concludes 2024 Article IV consultation with IMF
H.E Mr. Saddek Omar ElKaber, the Governor of the Central Bank of Libya, along with Mr. Khalid Ahmed Shakshak the President of Libyan Audit Bureau, Mr. Ali Al-Abid Al-Rida, the Minister of Labor and Rehabilitation, and Mr. Maree Al-Barasi, the Deputy Governor of the Central Bank of Libya, participated today,on Friday,10th of May, 2024, concluding the 2024 consultations Article IV with (IMF) in Tunisia. During the ten-day meetings, various topics related to the economic and financial assessment of the country, financial and trade policies, and ways to collaborate with all state institutions and international partners were discussed. The goal was to enhance economic, monetary, financial, and trade policies. The IMF mission emphasized the need for the Central Bank to diversify income sources, control and rationalize public spending, address fuel subsidies, and urgently implement reforms in public finances. The (IMF) also commended the Central Bank of Libya for its supervisory measures, governance framework development, enhancement of electronic payment systems, and commitment to financial sustainability despite internal and external fluctuations and risks.