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World Bank/IMF to assess aid for Libya

Oct 20 2011 17:06 Reuters

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Washington - The International Monetary Fund and the World Bank have visited Libya and will return there in “coming weeks” to assess economic and financial needs, an IMF spokesperson said on Thursday.

Officials from the IMF and World Bank visited Libya earlier this month to conduct a fact-finding mission on the economy and public financial management issues, IMF spokesman Gerry Rice told reporters.

“Follow-up missions are planned to undertake a needs assessment,” he said but was unable to give dates for the next visits.

The next visit to Libya by the international institutions comes amid media reports that deposed Libyan leader Muammar Gaddafi had been killed on Thursday near Sirte although details were still unclear.

The World Bank said in September it had been asked to repair water, energy and transport sectors as Libya’s ruling National Transitional Council focuses on rebuilding Libya.

After four decades of Gaddafi’s personalised rule, Libya does not have a regular state structure and state services are poorly run. There were attempts under Gaddafi to modernise the oil-based economy and government services by passing laws to attract investment but much of the effort was wasted.


imf  |  world bank  |  muammar ­gaddafi  |  arab spring
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