Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income. Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote.
The announcement lifted shares in the sector by as much as four percent in early trading. The programme includes technical assistance from the World Bank and a monitoring framework agreed with donors.
Why it matters
Critics argue the timeline is unrealistic and that the burden will fall disproportionately on small depositors. Executives said demand from Gulf clients had exceeded expectations, prompting plans for a second facility in Tripoli.
“This is the most consequential moment for the sector since the crisis began.”
Executives said demand from Gulf clients had exceeded expectations, prompting plans for a second facility in Tripoli. Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income.
Much depends on whether the government can hold its coalition together long enough to pass the legislation. The figures, published on Tuesday, compare with a contraction of 2.1 percent in the same period a year earlier.
