Local News: Economic News
World Bank reaffirms support for Libya and warns of weak economic growth.
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Washington, 28 April, 2022 (Lana) - Libyan Economic Monitor Report of the World Bank warned that Libya is facing enormous economic challenges, in light of continued disintegration of state institutions and social challenges, with the tense political situation. In the report, the World Bank noted Libya's need for urgent investments in infrastructure, and social assistance for vulnerable groups, including a more effective and regular pandemic vaccination. ... Read more
The Minister of Oil and Gas confirms that the closures of oil facilities have caused losses to the country estimated at $60 million per day.
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Tripoli, April 26, 2022 (LANA) - Oil and Gas Minister "Mohamed Aoun" said that the closures of oil facilities caused losses to the country estimated at 60 million dollars per day.Aoun confirmed in press statements that the country’s oil production rate has decreased by about “600,000” crude barrels per day, and by calculating the price at an average of $100 per barrel, Libya is losing sales opportunities estimated at $60 million per day. On the European energy crisis due to the... Read more
The Minister of Finance (Khaled Al-Mabrouk) discusses with the Vice President of the World Bank the bilateral cooperation and the return of the resident representative of the Bank to start his business from Tripoli.
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Washington, April 24, 2022 (LANA) - Minister of Finance "Khaled Al-Mabrouk" discussed with the Vice President of the World Bank for the Middle East and North Africa, ways to develop and enhance joint cooperation between the Bank and the various Libyan parties benefiting from the technical support programs and projects provided by the Bank. The meeting, which was held by the Minister on the sidelines of the spring meetings of the World Bank Group and the International Monetary Fund, touched upon the agreement to... Read more
CBL Governor participates in the meeting of the African Consultative Group.
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Tripoli, April 22, 2022 (LANA) - The Governor of the Central Bank of Libya participated Thursday in the meeting of the African Consultative Group, which was held under the chairmanship of the President of the African Congregation, Nadia Al-Alawi, and the Director-General of the International Monetary Fund, Kristalina Georgieva. The media office of the Central Bank stated that a number of central bank governors and African finance ministers participated in the meeting, which comes within the spring meetings of the International... Read more
The National Oil Corporation announced today, Monday, the state of force majeure on the Sharara oil field.
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Tripoli, April 18, 2022 (LANA) The National Oil Corporation announced today, Monday, the state of force majeure on the Sharara oil field.On its website, the Corporation warned against these practices, declaring that it was obliged to declare a state of force majeure on the El Sharara oil field, until further notice.It is noteworthy that Sharara oil field's crude oil is the main supplier of the Zawia refinery, which in... Read more
