A spokesperson declined to comment on the size of the facility, citing ongoing discussions with creditors. The programme includes technical assistance from the World Bank and a monitoring framework agreed with donors.
Critics argue the timeline is unrealistic and that the burden will fall disproportionately on small depositors. Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income.
Why it matters
Critics argue the timeline is unrealistic and that the burden will fall disproportionately on small depositors. The figures, published on Tuesday, compare with a contraction of 2.1 percent in the same period a year earlier.
“Capital follows credibility, and credibility is finally being rebuilt.”
The announcement lifted shares in the sector by as much as four percent in early trading. 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. Executives said demand from Gulf clients had exceeded expectations, prompting plans for a second facility in Tripoli.
