## IMF Staff Concludes Visit to Libya

_IMF News, November 14, 2025_

## Source details

**Canonical URL:** [IMF Staff Concludes Visit to Libya](https://www.imf.org/en/news/articles/2025/11/14/pr-25376-libya-imf-staff-concludes-visit)

## Other formats

- [Markdown version](/en/news/articles/2025/11/14/pr-25376-libya-imf-staff-concludes-visit/index.md)
- [Structured JSON version](/en/news/articles/2025/11/14/pr-25376-libya-imf-staff-concludes-visit/index.json)
- [Bundle manifest](/en/news/articles/2025/11/14/pr-25376-libya-imf-staff-concludes-visit/bundle-manifest.json)

## Bibliographic details
- Published: November 14, 2025

---

### Mission overview and context
- Press Release No. 25/376; mission dates: November 10-14, 2025.
- IMF staff team led by Ms. Stephanie Eble visited Tunis to discuss Libya’s recent economic developments, the macroeconomic outlook, and the authorities’ reform priorities.
- The views expressed are those of IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion.
- The staff team looks forward to the upcoming Article IV discussions, which are expected to take place in the spring of 2026.

### Key findings on the economy
- GDP growth in 2025 is supported by an increase in oil production.
- Lower international oil prices and high public spending are expected to lead to continued high fiscal and current account deficits.
- Long-standing political divisions have prevented the adoption of a unified budget, resulting in continued unrestrained spending that is putting pressure on the exchange rate and central bank reserves.
- Despite pressures, international reserves have remained at comfortable levels.
- Reported inflation remains low.
- The outlook is subject to high uncertainty with risks tilting to the downside.
- Twin fiscal and current account deficits are expected to persist over the medium term.
- Risks mainly relate to further uncontrolled spending and ongoing political fragmentation.
- Libya’s dependence on oil revenue implies that adequate investment in the oil sector is needed to maintain current production levels.

### Monetary and financial sector measures observed
- The Central Bank of Libya (CBL) has taken steps to regulate the foreign exchange market:
  - injected foreign currency liquidity;
  - issued new licenses to exchange bureaus to formalize the market.
- Withdrawal of counterfeit notes was completed in September, which would help preserve the integrity of the payment system.
- The CBL has increased reserve requirements to 30 percent.
- The CBL has increased liquidity ratios to 35 percent.
- The CBL introduced new Sharia-compliant investment certificates to absorb excess liquidity.
- Staff emphasize the need for additional monetary policy tools to manage excess liquidity and react proactively to changing macroeconomic conditions.
- Preserving central bank independence is essential to maintain financial stability and market confidence.
- Staff welcome the CBL’s initiative to participate in the IMF’s Central Bank Transparency Code.

### Fiscal policy priorities and public financial management
- Top policy priority: agreement on a fiscal spending envelope consistent with internal and external balance, to be implemented in the context of a unified budget.
- A unified budget needs to be supported by comprehensive spending reforms.
- The recently launched centralized instant wage payment platform is a welcome step toward:
  - enhancing transparency;
  - reducing corruption;
  - strengthening control over the wage bill.
- Authorities are encouraged to make the centralized instant wage payment platform the main channel for wage payments and to expand the reform to other spending categories.
- Important that future investments are guided by a transparent, prioritized multi-year investment plan aligned with available fiscal space and the economy’s absorption capacity.
- Tackling long-overdue subsidy reform remains an important policy priority.

### Capacity development and technical engagement
- The IMF remains committed to extending capacity development to Libyan authorities in areas including:
  - national accounts;
  - price statistics;
  - monetary policy tools;
  - public financial management;
  - banking supervision.
- Staff look forward to the financial inclusion strategy that will support the CBL’s efforts to expand digital payments.

### Closing
- The mission thanks the Libyan authorities for the constructive policy dialogue and productive collaboration.

*Source: IMF press release, "IMF Staff Concludes Visit to Libya" (Press Release No. 25/376), November 14, 2025.*

---


## References

- [Libya and the IMF](http://www.imf.org/external/country/LBY/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [Central Bank Transparency Code](https://www.imf.org/external/datamapper/CBT/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2025/11/14/pr-25376-libya-imf-staff-concludes-visit_