Libyan economic and financial reform program in the wind

Libya is considered one of the Arab and African countries that are experiencing many economic crises, which make the Governor of the Central Bank of Libya, continue to work on economic and financial reforms, considering that the economic crisis in Libya is closely related to the security factor and the political conflict in Libya today.

Work on solving the economic and financial crisis in Libya is work on the formation of strategies to overcome political and security crises and not vice versa.

The Libyan state institutions should, therefore, support the Central Bank of Libya in the process of economic development.

The Central Bank of Libya may fail to develop an economic and financial reform program with increasing political tensions and internal conflicts between the National Authorities in Libya.

Libya's economic and financial reform may become a burden on the Libyan state and its various sovereign institutions.

An increase in oil production in Libya does not mean that Libya has overcome its economic crises and is far from seeking loans from the International Monetary Fund to try to improve its economic situation.

But, can the Central Bank of Libya implement its development plans? And wind-proof programs will be blown.

The issue of the economy in Libya is of paramount importance to the Libyan social situation, the officials must face the challenges facing them so that the economic situation does not worsen with Economic and financial reforms in Libyan.

Successful experiences are the participation and joining experiences in a unified sovereign institution that operates on a unified economic vision and program in a state with a unified legal sovereign.

They must also implement a rigorous plan to face the challenges that the Libyan state will face in the future.

Resistance to poor economic indicators of unemployment, inflation, budget deficit and GDP growth, through previous experiences in the Libyan economy, will present some proposals that may contribute to the development of economic and financial reform programs that exploit the increase in Libyan oil and gas prices which we are witnessing in growth At this difficult period of Libyan obligations.

By Ramzi Mavrakis