The Central Bank of Libya (CBL) reported last Friday (6 December) that the preparatory meetings being held in Tunis last week for the ‘‘2025 ‘Article IV Consultations’’ with the International Monetary Fund (IMF) were concluded. The 2025 Article IV Consultations proper will be held in April 2025.
The meetings were held in the presence of Naji Issa, Governor of the CBL, his deputy, some members of the CBL Board of Directors, experts of the International Monetary Fund, and with the participation of the CBL technical teams, the Ministry of Economy and Trade, the Ministry of Finance, the Ministry of Planning, the National Oil Corporation, the Audit Bureau, the Department of Statistics and Census, in addition to representatives of the private sector and civil society institutions.
During the meetings, the general economic and financial situation of Libya was reviewed, and discussions between Libyan institutions were extracted for the purpose of coordinating efforts, leading to real harmony between economic policies (monetary, financial and trade).
The CBL reported that the IMF appreciated the efforts of the CBL in developing the banking sector, carrying out tangible reforms in the field of governance, improving the quality of services and developing electronic payment methods.
Article IV Consultations
Through Article IV Consultations, the IMF attempts to assess member country’s economic health and to forestall future financial problems. The IMF also operates the IMF Institute, a department that provides training in macroeconomic analysis and policy formulation for officials of member countries.
