{
  "title": "Libya Beyond the Revolution: Challenges and Opportunities",
  "publication": "Departmental Papers, April 16, 2012",
  "sourceUrl": "https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2016/12/31/libya-beyond-the-revolution-challenges-and-opportunities-25784",
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  "summary": "In the aftermath of the revolution of 2011, Libya faces the complex task of rebuilding its economy, infrastructure, and institutions, and responding to the demands of the population, especially for improved governance.",
  "sections": [
    {
      "heading": "Executive summary",
      "content": "- Publication date: April 16, 2012\n- Series: Departmental Paper No 2012/003; Issue: 003; Volume: 2012; Pages: 28\n- DOI: https://doi.org/10.5089/9781475504392.087\n- Stock No: LBRCEA; ISBN: 9781475504392; ISSN: 2616-5333\n- Core focus: post-2011-revolution reconstruction of Libya’s economy, infrastructure, and institutions; risks to economic recovery; measures to promote economic diversification and employment growth."
    },
    {
      "heading": "Short-term priorities identified",
      "content": "- Restore security.\n- Bring hydrocarbon production fully online.\n- Exercise fiscal discipline.\n- Resuscitate the banking system.\n- Maintain macroeconomic stability."
    },
    {
      "heading": "Medium-term priorities identified",
      "content": "- Capacity building.\n- Infrastructure renewal.\n- Private-sector development.\n- Improving education.\n- Job creation.\n- Implement an effective social safety net.\n- All medium-term efforts to be carried out within a framework of transparent and accountable governance."
    },
    {
      "heading": "Context and institutional response",
      "content": "- The 2011 revolution and accompanying conflict had a severe impact on the economy.\n- International financial institutions responded to requests from Libyan authorities to provide policy consultations and technical assistance to help maintain macroeconomic stability.\n- Libya's National Transitional Council (NTC) has taken steps to promote a peaceful political transition, normalize economic conditions, and set out a national reform agenda."
    },
    {
      "heading": "Risks and challenges highlighted",
      "content": "- Risks to economic recovery stemming from security, hydrocarbon output disruptions, fiscal pressures, and banking-system distress.\n- Need for policies that promote economic diversification and employment growth to address structural vulnerabilities."
    },
    {
      "heading": "Subjects and keywords (as provided)",
      "content": "- Subjects: Budget planning and preparation; Commercial banks; Expenditure; Financial institutions; Fiscal policy; Public financial management (PFM); Social assistance spending.\n- Keywords: Budget planning and preparation; Commercial banks; country; DP; DPPP; financial situation; GDP; Global; government; government financing expenditure; Libya; liquid financial assets; market value; private-sector development; reserve account; Social assistance spending.\n\nInternational Monetary Fund. \"Libya Beyond the Revolution: Challenges and Opportunities\", Departmental Papers 2012, 003 (2012).\n\n---\n\n Content in this bundle\n\n- Libya beyond the Revolution: Challenges and Opportunities\n  - Libya beyond the Revolution: Challenges and Opportunities (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Libya beyond the Revolution: Challenges and Opportunities (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2016/12/31/libya-beyond-the-revolution-challenges-and-opportunities-25784"
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    "Published: April 16, 2012",
    "Series: Departmental Papers",
    "DOI: https://doi.org/10.5089/9781475504392.087",
    "Publication date: April 16, 2012",
    "Series: Departmental Paper No 2012/003; Issue: 003; Volume: 2012; Pages: 28",
    "DOI: https://doi.org/10.5089/9781475504392.087",
    "Stock No: LBRCEA; ISBN: 9781475504392; ISSN: 2616-5333",
    "Core focus: post-2011-revolution reconstruction of Libya’s economy, infrastructure, and institutions; risks to economic recovery; measures to promote economic diversification and employment growth.",
    "Restore security.",
    "Bring hydrocarbon production fully online.",
    "Exercise fiscal discipline.",
    "Resuscitate the banking system.",
    "Maintain macroeconomic stability.",
    "Capacity building.",
    "Infrastructure renewal.",
    "Private-sector development.",
    "Improving education.",
    "Job creation.",
    "Implement an effective social safety net.",
    "All medium-term efforts to be carried out within a framework of transparent and accountable governance.",
    "The 2011 revolution and accompanying conflict had a severe impact on the economy.",
    "International financial institutions responded to requests from Libyan authorities to provide policy consultations and technical assistance to help maintain macroeconomic stability.",
    "Libya's National Transitional Council (NTC) has taken steps to promote a peaceful political transition, normalize economic conditions, and set out a national reform agenda.",
    "Risks to economic recovery stemming from security, hydrocarbon output disruptions, fiscal pressures, and banking-system distress.",
    "Need for policies that promote economic diversification and employment growth to address structural vulnerabilities.",
    "Subjects: Budget planning and preparation; Commercial banks; Expenditure; Financial institutions; Fiscal policy; Public financial management (PFM); Social assistance spending.",
    "Keywords: Budget planning and preparation; Commercial banks; country; DP; DPPP; financial situation; GDP; Global; government; government financing expenditure; Libya; liquid financial assets; market value; private-sector development; reserve account; Social assistance spending.",
    "**Libya beyond the Revolution: Challenges and Opportunities**"
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