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Libya; Technical Assistance Report—Public Financial Management Reform Priorities in the New Environment

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  • International Monetary Fund

Abstract

Libya faces a number of challenges to establishing a robust, efficient, and transparent public financial management system. There is a need to establish a clear macrofiscal policy framework. The Sovereign Wealth Fund (SWF) should be a financing fund system with clear and rigid inflow and outflow rules and should be based on clear and regulated investment criteria. Under the existing legal and regulatory framework, budget expenditures cannot exceed the initial ceilings specified in the annual budget law. This should be strictly enforced.

Suggested Citation

  • International Monetary Fund, 2013. "Libya; Technical Assistance Report—Public Financial Management Reform Priorities in the New Environment," IMF Staff Country Reports 13/36, International Monetary Fund.
  • Handle: RePEc:imf:imfscr:13/36
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=40298
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    References listed on IDEAS

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    1. John M. Piotrowski & David Coady & Justin Tyson & Rolando Ossowski & Robert Gillingham & Shamsuddin Tareq, 2010. "Petroleum Product Subsidies; Costly, Inequitable, and On the Rise," IMF Staff Position Notes 2010/05, International Monetary Fund.
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