In a new 'Transitions Forum' paper for the Legatum Institute, in partnership with Brehon Advisory, author Mark Dempsey outlines the current state of the financial sector in Libya and makes recommendations for how the situation can be improved.
A functioning private banking sector is crucial to the economic growth of states in transition. In this paper, Dempsey draws on his experience working in the central banks of Iraq, Jordan, and Lebanon, to highlight the financial, banking, and central banking reforms necessary to spur Libya’s economic growth.
With nearly 85 percent of the working population employed in the public sector, Libya is desperately in need of a more vibrant private sector.
Mark Dempsey's full report can be downloaded here.