CBL Governor Optimistic on Libya’s Economy

The Governor of the Central Bank of Libya (CBL), Saddek Elkaber (pictured), said that he was very optimistic about the Libyan economy in 2013, reports Libya Herald.

He told SkyNewsArabia that the CBL’s overseas frozen assets of around $126 billion had all been released and that releasing them does not mean that Libya is going to repatriate them, but that it means that Libya was now free to administer and manage them freely as it pleased.

He went on to forecast that Libya’s economy would grow by "about 20 percent if not more"in 2013, four percent points higher than the IMF’s May forecast of 16 percent for 2013.

On the issue of security, he expected the situation to improve in 2013, with the "activation of current contracts" and the "return of foreign companies to resume their work".

The governor said nothing about outstanding debts owed to contractors, or their claims for compensation for losses incurred during Libya’s revolution.

(Source: Libya Herald)

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