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IMF will meet with Libyan leaders 'shortly'
The International Monetary Fund said Thursday it was planning to meet with Libya's new leaders soon to determine the financing needs of the war-torn country.
"There will be a meeting with the authorities shortly. I don't have a specific date but it will be soon," IMF spokesman David Hawley said at a regularly scheduled news conference.
The spokesman did not say where the meeting would take place.
"The areas that we're discussing with the authorities are preparation of a macroeconomic framework, assessment of the public financial management capacity, estimation of financing needs, and assistance we might provide in restoring the central bank's payment system and operations," he said.
The IMF estimates that Libya's gross domestic product -- the oil-rich nation's output of goods and services -- has been slashed by more than half this year amid an uprising that ousted strongman Moamer Kadhafi last month.
http://www.timeslive.co.za/africa/20...eaders-shortly
Libya central bank looks to IMF amid cash crisis
TRIPOLI (Reuters) - Libya's acute cash crisis is set to get worse and its banking system requires a complete overhaul that will be guided by the International Monetary Fund and World Bank, the central bank's recently appointed governor said.
Saddek Omar Elkaber told Reuters in an interview that just $1.5 billion out of around $170 billion of Libyan assets abroad had been unfrozen, and with the first delivery of the war-torn country's new banknotes still nearly two months away, the liquidity crisis was far from over.
"The first shipment will arrive at the end of December... We are going to have to manage the liquidity problem until then," Elkaber said earlier this week.
http://ca.reuters.com/article/topNew...7A22K420111103
Let the donkey ride begin...as the Col. would say
The International Monetary Fund said Thursday it was planning to meet with Libya's new leaders soon to determine the financing needs of the war-torn country.
"There will be a meeting with the authorities shortly. I don't have a specific date but it will be soon," IMF spokesman David Hawley said at a regularly scheduled news conference.
The spokesman did not say where the meeting would take place.
"The areas that we're discussing with the authorities are preparation of a macroeconomic framework, assessment of the public financial management capacity, estimation of financing needs, and assistance we might provide in restoring the central bank's payment system and operations," he said.
The IMF estimates that Libya's gross domestic product -- the oil-rich nation's output of goods and services -- has been slashed by more than half this year amid an uprising that ousted strongman Moamer Kadhafi last month.
http://www.timeslive.co.za/africa/20...eaders-shortly
Libya central bank looks to IMF amid cash crisis
TRIPOLI (Reuters) - Libya's acute cash crisis is set to get worse and its banking system requires a complete overhaul that will be guided by the International Monetary Fund and World Bank, the central bank's recently appointed governor said.
Saddek Omar Elkaber told Reuters in an interview that just $1.5 billion out of around $170 billion of Libyan assets abroad had been unfrozen, and with the first delivery of the war-torn country's new banknotes still nearly two months away, the liquidity crisis was far from over.
"The first shipment will arrive at the end of December... We are going to have to manage the liquidity problem until then," Elkaber said earlier this week.
http://ca.reuters.com/article/topNew...7A22K420111103
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