The Socialist Peopled Libyan Arab Jamahiriya: 2003 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
Volume/Issue:
Volume 2003
Issue 327
Publication date: October 2003
ISBN: 9781451823042
$20.00
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Topics covered in this book
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Business and Economics , Exports and Imports , Labor , Economics- Macroeconomics , Public Finance , ISCR , CR , budget transparency , privatization receipt , deficit , oil receipts , receipt , finalization of the budget , staff appraisal , Public enterprises , Exchange rates , Imports , Labor force , Middle East , Global
Summary
The Libyan economy remains saddled with extensive controls, restrictions, and subsidies that continue to distort prices and resource allocations, hinder efficiency and competitiveness, and impede the performance of the economy. Executive Directors commended the liberalizing of the economy, and stressed the need to improve macroeconomic management, remove trade restrictions, accelerate structural reforms, and tighten monetary and fiscal policies. They supported the authorities' request for technical assistance from the IMF in the areas of statistics, financial programming, development of money markets, and financial instruments, and tax reform.
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