LIBYA

 

IMF Sees Good Growth Prospects For Libya

Libya’s economic activity is recovering rapidly with the restoration of hydrocarbon production, the IMF said on 11 July in its concluding statement after a visit to Libya. Real GDP contracted by 60% in 2011, but is projected to rebound by twice as much (116.6%) in 2012 and continue rising in the coming three years. The IMF said that the short term challenges for Libya “are to manage the political...