Tag Archives | World Bank

EWG Meets to address Urgent Economic Issues

On 21 January, the co-chairs of the International Follow-Up Committee on Libya's Economic Working Group (EWG), including Acting Special Representative of the Secretary-General for Libya Stephanie Williams and representatives of Egypt, the United States and the European Union, convened a meeting to discuss urgent economic issues including the need to manage the impacts of a […]

Technical Meeting on Critical Reforms of Libyan Economy

Technical meeting on critical reforms of the Libyan Economy kicks off today in Geneva Acting Special Representative of the UN Secretary-General for Libya Stephanie Williams convened on Monday a technical meeting on critical reforms of the Libyan economy. The meeting, co-presided by Egypt, the United States, and the European Union, as co-chairs of the Economic […]

World Bank Overview of Conditions in Libya

The Libyan economy has recently been hit by four overlapping shocks: an intensifying conflict that suffocates economic activity, the closure of oil fields that puts the country's major income-generating activity largely on hold, decreasing oil prices that reduce income from oil production in surviving fields, and the COVID-19 pandemic (with 3,438 confirmed cases and 73 […]

Libya Static in Doing Business Index

By John Lee. Libya has been ranked 186th out of 190 countries in the World Bank‘s recent Doing Business 2020 report, maintaining its position from the previous year. Top of the list were New Zealand, Singapore and Hong Kong, with last place going to Somalia, just behind Eritrea and Venezuela. Iran ranked 127th, with Iraq […]

Libya Targets Foreign Investors in "Vast" Reconstruction Drive

By John Lee. Libya is reportedly preparing to launch a comprehensive reconstruction program with the support of international organizations including the World Bank. Xinhua quotes Libyan Minister of Planning Taher Al-Juhaimi as saying that the Libyan government is reviewing its five-year development plan by redefining the priorities of some 4,000 projects worth around $100 billion. […]

Libya GDP Growth of 4% this yr, 6% next

By John Lee. A new report from the World Bank Group forecasts real GDP growth (at constant market prices) of 4 percent this year in Libya, increasing to 6 percent next year: As the oil sector is the major source of growth, economic activities remain constrained by recurrent clashes around oil infrastructure aiming to control […]

World Bank's new Strategy to support Libya

New Partnership with Libya Focused on Economic Recovery and Improving the Lives of Libyans The World Bank Group has announced a new strategy of support for Libya focused on restoring key services to citizens and promoting economic recovery as a critical contribution to the ongoing peace process. Developed in response to a request from the […]

Libya Falls in Ease of Doing Business Index

By John Lee. Libya has been ranked 186th out of 190 countries in the World Bank‘s recent Doing Business 2019 report, down from 185th place the previous year. Top of the list were New Zealand, Singapore and Denmark, with last place going to Somalia, just behind Eritrea and Venezuela. Iran ranked 128th, with Iraq 171st. Doing […]