Browsing: World Bank

Jeremy Berndt, the Chargé d’Affaires of the US Embassy in Libya, held talks on Wednesday with the World Bank’s Resident Representative for Libya, Henriette von Kaltenborn-Stachau, on reconstruction needs in Derna and other flood-affected communities two months after the devastating floods that hit eastern Libya on 10 September.

Libya’s public debt has reached high levels, which amounted to 70.4 percent of GDP in 2022, also equivalent to 126 percent of government revenue, according to the World Bank’s economic update in April.

Libya is projected to record a GDP growth rate of 78.2% in 2021 if the presidential and parliamentary elections and the reunification of public institutions proceed, and oil production persists, the World Bank said.

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Prime Minister of the Libyan Government of National Unity (GNU), Abdel Hamid Dbeibeh, discussed on Monday with a delegation from the World Bank an assessment of cooperation between Libyan institutions and the World Bank.
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