The IMF on 9 June issued its first report on the Libyan economy in ten years. Though the Fund praises “recent improvements in data collection, sharing, and transparency” and “significant efforts to move forward and overcome the economic challenges brought by political conflict,” massive challenges remain.

“Libya faces the daunting challenge of reducing its reliance on hydrocarbons while fostering stronger and more inclusive private sector-led growth… Diversification away from hydrocarbons should be the overarching strategic objective,” it says. (CONTINUED - 1255 WORDS)