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Home » IMF: Libya’s foreign exchange reserves have reached $82 billion in 2022

IMF: Libya’s foreign exchange reserves have reached $82 billion in 2022

Thursday, June 1, 2023 Economy 1 Min Read
IMF: Libya’s foreign exchange reserves have reached $82 billion in 2022
A man uses a currency counting machine to count Libyan dinar at a currency exchange office in central Tripoli March 30, 2014. Libya is burning through central bank reserves and scrapping infrastructure projects to overcome its worst budget crisis in decades after the seizure of oil installations by armed groups has reduced the government's income almost to zero. Picture taken March 30, 2014. REUTERS/Ismail Zitouny (LIBYA - Tags: POLITICS CIVIL UNREST BUSINESS) - RTR3JBYF

Libya’s foreign exchange reserves have reached a total of $82 billion at the end of 2022 and the volume of frozen assets has stood at $70 billion since 2011, revealed Dmitry Gershenson, the head of the mission of the International Monetary Fund (IMF) in Libya.

Speaking during an interview with the broadcaster CNBC Arabia on Wednesday,  Gershenson expressed his appreciation for the efforts of the Central Bank of Libya (CBL) aimed at maintaining financial and monetary stability despite the “turbulence” that the country has experienced and for having provided support to the Libyan economy in countering the financial shocks.

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