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International Monetary Fund

Selected Fund Activities (the “Subaccount”) under the terms of the SFA instrument. 2. The Fund, represented by the Managing Director, has reached understandings with Libya acting through the Central Bank of Libya (“Libya”), to finance capacity building (technical assistance and training) and related activities. On the basis of these understandings, the Managing Director has established the essential terms and conditions of the Subaccount, with which The Socialist People’s Libyan Arab Jamahiriya concurs, with respect to the nature, design, and implementation of the

International Monetary Fund
The Fund, represented by the Managing Director, has reached understandings with Libya acting through the Central Bank of Libya (“Libya”), to finance capacity building (technical assistance and training) and related activities. On the basis of these understandings, the Managing Director has established the essential terms and conditions of the Subaccount, with which The Socialist People’s Libyan Arab Jamahiriya concurs, with respect to the nature, design, and implementation of the activities to be financed and the method by which the costs of the activities will be financed from the Subaccount.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund. Middle East and Central Asia Dept.
The political and security environment remains uncertain in Libya. Libya faces the challenges of stabilizing the economy and responding to the aspirations of the revolution. The near-term outlook is favorable, but there are significant risks. The overarching policy objective should be to foster inclusive growth. Banks are not intermediating, and resources should be devoted to its effective implementation. Expenditure is skewed toward wages and subsidies. Libya needs to adopt a comprehensive reform strategy. The government agrees with the assessment of the economic outlook and associated risks and policy options as outlined by Executive Directors.
International Monetary Fund. Middle East and Central Asia Dept.

Developments and Policies The Central Bank of Libya has taken steps to implement a dual banking system that includes Sharia-compliant and conventional banking in Libya. They are keen not to disrupt financial intermediation nor undermine the financial sector’s contribution to diversified economic development. The Central Bank of Libya recently adopted procedures to prevent unlicensed financial services (such as exchange and transfer agencies) and is looking into a broader financial sector reform to bolster regulation and supervision. So far, banks held up well in spite of

International Monetary Fund

Oil and Exports of Crude Oil and Refined Products, 2002–07. 15. Consolidated Fiscal Operations, 2002–07 16. Government Administrative Expenditure, 2002–07 17. Food Subsidies, 2002–07 18. Summary Accounts of the Central Bank of Libya, 2002–07 19. Summary Accounts of the Deposit Money Banks and Regional Banks, 2002–07 20. Monetary Survey, 2002–07 21. Foreign Assets and Liabilities of the Central Bank and Commercial Banks, 2002–07 22. Summary Accounts of the Libyan Foreign Bank, 2002–07 23. Loans Disbursed by the Agricultural Bank, 2002–07 24. Loans

International Monetary Fund

Prices of Petroleum Products, 2001–06 13. Production and Exports of Gas and Petrochemicals, 2001–06 14. Production of Crude Oil and Exports of Crude Oil and Refined Products, 2001–06 15. Consolidated Fiscal Operations, 2001–06 16. Government Administrative Expenditure, 2001–05 17. Central Government Development Expenditures, 2001–04 18. Food Subsidies, 2001–05 19. Summary Accounts of the Central Bank of Libya, 2001–06 20. Summary Accounts of the Deposit Money Banks and Regional Banks, 2001–06 21. Monetary Survey, 2001–06 22. Foreign Assets and

International Monetary Fund

–2004 21. Government Administrative Expenditures, 1999–2004 22. Central Government Development Expenditures, 1999–2003 23. Food Subsidies, 1999–2004 24. Summary Accounts of the Central Bank of Libya, 1999–2004 25. Summary Accounts of the Deposit Money Banks and Regional Banks, 1999–2004 26. Monetary Survey, 1999–2004 27. Interest Rate Structure, 1995–2004 28. Foreign Assets and Liabilities of the Central Bank and Commercial Banks, 1999–2004 29. Summary Accounts of the Libyan Arab Foreign Bank, 1999–2004 30. Loans Disbursed by the Agricultural Bank, 1999