IMF Highlights Libya's Financial Sector Reforms

The International Monetary Fund (IMF) has released a concluding statement on Libya's economic situation, emphasizing the need for financial sector reforms to strengthen regulation, supervision, and crisis management frameworks.

Financial Sector Oversight

The Central Bank of Libya (CBL) has taken steps to enhance financial sector oversight, including the preparation of a Financial Stability Report and efforts to adopt a new banking sector law. The upcoming Financial Sector Stability Review (FSSR) is expected to assess vulnerabilities and advance reforms.

Financial Inclusion Efforts

The CBL has made progress in advancing financial inclusion by addressing cash shortages, reactivating foreign exchange bureaus, and promoting digitalization. These efforts aim to improve access to financial services and payment efficiency.

Challenges and Recommendations

Despite progress, financial intermediation remains constrained. The IMF recommends further efforts to strengthen infrastructure reliability, expand access to underserved populations, enhance consumer protection, and reinforce the regulatory framework.

For more details, refer to the IMF's statement: Libya: Staff Concluding Statement of the 2026 Article IV Consultation Mission.