Macroeconomic Forecast Libya

The decision by the UN Security Council to unfreeze approximately US$150bn in assets held by the central bank and one of its subsidiaries should help alleviate a short-term liquidity crisis in the country. We have penciled in the central bank's total stock of foreign reserves coming in at US$91.6bn by end-2012, marking a 15.0% y-o-y increase, driven higher primarily by higher oil export revenues.

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