A spokesperson declined to comment on the size of the facility, citing ongoing discussions with creditors. Analysts caution that the outlook remains tied to the pace of structural reforms and the political calendar.
Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote. Regional peers have moved faster, and the gap is becoming harder to ignore, one former adviser said.
Background
Analysts caution that the outlook remains tied to the pace of structural reforms and the political calendar. Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income.
“Capital follows credibility, and credibility is finally being rebuilt.”
The figures, published on Tuesday, compare with a contraction of 2.1 percent in the same period a year earlier. The announcement lifted shares in the sector by as much as four percent in early trading.
Regional peers have moved faster, and the gap is becoming harder to ignore, one former adviser said. Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income.
Key details
Executives said demand from Gulf clients had exceeded expectations, prompting plans for a second facility in Tripoli. Investors have been watching the negotiations closely, with yields on the 2030 notes narrowing by 40 basis points this week.
Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income. Executives said demand from Gulf clients had exceeded expectations, prompting plans for a second facility in Tripoli.
The plan sets out three phases, beginning with an audit of balance sheets and ending with a recapitalisation schedule. The announcement lifted shares in the sector by as much as four percent in early trading.
