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FINANCIAL NEWS
IMF prepared to provide Libya with external financing
13 Sep 2011
(MENAFN) The International Monetary Fund’s (IMF) director of the Middle East and Central Asia department, Masood Ahmed, said that the fund was ready to give Libya external financing if needed, reported Arab News.
Ahmed added that around USD150 billion of Libyan sovereign assets that were frozen abroad were forecasted to be available to the country; therefore, Libya wouldn’t be expected to need an extended aid program.
On the other hand, Ahmed said that if Egypt asked for a financial aid, then the fund would be willing to help the country, adding that in June, the country refused a USD3 billion offer from the IMF since Cairo wanted to fund its deficit from local resources and the help of Arab countries.
It is worth noting that the IMF recognized Libya’s National Transitional Council (NTC) as its government and would send a team there as soon as security prevails.
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