NO. 19


Financial and Banking News

Budgets & Revenues

Libya Faces Up To Challenge Of Low Oil Prices

Libya needs to mobilize domestic savings as a way of reducing the budgetdeficit and guarding against inflation, according to Mr. 'Abd al-Hafidh Zlitni,the Governor of the Libyan Central Bank. Speaking after the Libyan Parliamenthad adopted the 1994 budget, Mr. Zlitni suggested that the Central Bank should"issue treasury bonds to mop up the public debt, with attractive...