Latest news with #ArabMonetaryFund
Libya Review
2 days ago
- Business
- Libya Review
Libya Set to Record Fastest Economic Growth in Arab World
Libya is projected to lead the Arab world in economic growth in 2025, according to the latest estimates from the International Monetary Fund (IMF). The IMF expects Libya's gross domestic product (GDP) to expand by 17.3%, the highest growth rate among Arab countries. These projections are consistent with forecasts by the Arab Monetary Fund, which estimated that the Libyan economy will grow by around 14.3% next year, once again ranking it first among Arab economies in terms of growth pace. International media outlets, including CNN Business, also highlighted Libya's position at the top of the list of fastest-growing Arab economies in 2025. Libya's projected growth far outpaces that of Djibouti (6%), Mauritania (4.4%), the UAE (4%), Somalia (4%), Morocco (3.9%), Egypt (3.8%), Algeria (3.5%), Saudi Arabia (3%), and Bahrain (2.8%). The robust growth outlook is largely driven by expectations of stable oil production levels, improving economic conditions, and ongoing reconstruction and development plans. These factors present significant opportunities to strengthen Libya's economic and social stability in the coming years. The accelerated growth further reflects positive indicators tied to Libya's oil sector stability, an improving investment climate, and continued efforts to enhance infrastructure and expand economic activity across multiple sectors. Tags: GDPlibyaLibyan Economy
Libya Review
5 days ago
- Business
- Libya Review
Libya's Economy Set for 14.3% Growth in 2025
The Arab Monetary Fund (AMF) predicts Libya's economy will grow by 14.3% in 2025, the highest rate in the Arab world. Growth is expected to slow to 5.9% in 2026, driven largely by the hydrocarbon sector, which accounts for over 95% of state revenues. Despite this positive outlook, the AMF warned that political instability and weak institutional capacity remain obstacles to structural reforms. Inflation has stayed low, dropping from 2.4% in 2023 to 2.1% in 2024, helped by a stable exchange rate. The broader Arab economy is forecast to grow by 3.8% in 2025, up from 2.2% in 2024, before reaching 4.3% in 2026. Improved macroeconomic conditions and economic reforms are key drivers. In a separate development, Libya's National Oil Corporation (NOC) announced a commercial oil discovery in the Ghadames Basin. Algeria's Sonatrach made the find, with expected output of 4,200 barrels per day. Libya's total crude production has now surpassed 1.3 million barrels per day. Tags: AMFeconomyHydrocarbonlibyaoil
Libyan Express
6 days ago
- Business
- Libyan Express
Arab Monetary Fund sees 14.3% growth for Libya in 2025
Copy Link Libya's economy is expected to post one of the fastest growth rates in the region this year, expanding by 14.3 percent, according to the Arab Monetary Fund's Arab Economic Outlook report released this week. Growth is forecast to slow to 5.9 percent in 2026. The Fund said the outlook depends heavily on improvements in security, governance and investor confidence. The report highlighted Libya's heavy reliance on the oil and gas sector, which generates more than 95 percent of state revenues. It said the strong near-term growth projection reflects the National Oil Corporation's achievement in raising daily crude output to more than 1.4 million barrels by the end of 2024. Libyan authorities have introduced gradual economic measures aimed at improving living standards and strengthening the economy. The Fund cautioned that political instability and weak institutional capacity remain major obstacles to deep and lasting reforms. Inflation has stayed low by regional standards. It stood at 2.4 percent in 2023 and eased to around 2.1 percent last year. The Fund attributed this to the stable exchange rate of the Libyan dinar against the United States dollar, which has helped contain price pressures. Inflation is projected to dip to 1.8 percent in 2025 and rise slightly to 1.9 percent in 2026. The Fund said economic conditions across the Arab world improved in early 2025 compared with recent years. However, it warned that the recovery remains vulnerable to global trade tensions, falling energy prices and regional geopolitical developments. While new United States tariffs are not expected to directly affect Libya's oil exports, the Fund said they could indirectly slow growth by weakening demand in key trading partner economies.
Libya Observer
6 days ago
- Business
- Libya Observer
Arab Monetary Fund expects Libyan economy to grow 14.3% in 2025
The Arab Monetary Fund has forecast strong growth for the Libyan economy this year at 14.3%, with growth expected to slow to 5.9% next year. However, the outlook depends on improving conditions in the country, which would boost investor confidence and increase its attractiveness for investment. In its periodic Arab Economic Outlook report issued this week, the Fund said Libya's economy relies heavily on the hydrocarbons sector, which accounts for more than 95% of the state's revenues. It noted that growth prospects have been strengthened by the National Oil Corporation's success in raising daily production to over 1.4 million barrels per day by the end of last year. The report highlighted Libyan authorities' efforts to implement gradual economic measures to improve economic and social conditions. However, it stressed that weak stability and limited institutional capacity remain key challenges to accelerating the pace of much-needed structural reforms. Regarding inflation, Libya saw relative stability in its inflation rate, which stood at about 2.4% in 2023 before declining slightly to around 2.1% last year, according to the report. The Fund attributed this stability mainly to the steady exchange rate of the Libyan dinar against the US dollar, which helped contain inflationary pressures and maintain general price stability. Inflation is expected to remain at low levels, with the rate projected at about 1.8% in 2025 before rising slightly to around 1.9% the following year. While noting that economic conditions in Arab countries as a whole saw relative improvement at the start of 2025 compared to recent years, the Arab Monetary Fund cautioned that this recovery still faces challenges, including the impact of escalating global trade tensions, rising uncertainty, geopolitical developments in the region, and lower energy prices. The report added that the impact of US tariffs on the region is expected to be limited, given the exclusion of the hydrocarbons sector. However, it warned that these tariffs could indirectly affect Arab economies by slowing growth among their main trading partners.
Zawya
10-08-2025
- Business
- Zawya
CINET showcases its credit analytics experience at the 19th meeting of the Arab Committee on Credit Information
Kuwait: Kuwait Credit Information Network Company (CINET) participated in the 19th meeting of the Arab Committee on Credit Information, organized by the Arab Monetary Fund. The event brought together leaders in the credit information industry across the region to discuss current challenges and best practices in credit reporting and scoring services. CINET's participation highlighted how it utilizes data science and artificial intelligence in credit evaluation and risk management, offering valuable insights into the role of data analytics in enhancing institutional decision-making. Representing CINET at the event were Mrs. Mai Bader Al-Owaish, Chief Executive Officer, and Mr. Fouzan Y. Al-Sumait, Senior Manager of Data and Artificial Intelligence. They delivered a specialized presentation outlining CINET's experience in data science and analytics, showcasing innovative products that embed advanced analytics into credit information services and demonstrating their impact on financial decision-making and credit stability. CINET is the first credit company in the region to apply this integrated model, underscoring its leadership in leveraging technology to enhance the efficiency of the financial market. The company continues its efforts to deliver advanced solutions, including the recent launch of its new mobile application, which enables individuals to access their full credit facilities—including loans and credit cards, and more—in a transparent, fast, and user-friendly manner, empowering individuals and businesses with smarter financial decision-making tools and more effective risk management. Commenting on the participation, Mrs. Mai B. Al-Owaish said: 'Our participation in this meeting reaffirms CINET's commitment to supporting the development of cutting-edge data solutions that address the evolving needs of financial institutions and provide both individuals and organizations with practical tools for accurate and smarter financial decision-making. This platform enables us to share experiences with our peers in the Arab region, highlight our success stories, and explore advanced tools that pave the way for a more data-driven and inclusive credit ecosystem'. Mr. Fouzan Y. Al-Sumait added: 'At CINET, we are keen to design data analytics tools that enable financial institutions to understand customer behavior and assess risks accurately, leveraging data science capabilities for strategic growth. We provide precise insights into creditworthiness, credit patterns, and risk exposure. From our experience with financial institutions in Kuwait that use CINET's credit analytics products, it has become clear that effective data strategies is a critical factor in mitigating risks, enhancing financial stability, and achieving sustainable growth'. The Arab Committee on Credit Information, whose secretariat is overseen by the Arab Monetary Fund, operates under the Arab Central Banks and Monetary Authorities' Governors. It includes directors and officials from credit information units within Arab central banks and monetary authorities, along with executives from licensed national credit information companies. CINET's participation reflects its ongoing commitment to innovation and excellence and its vision to reshape the future of credit services in Kuwait and the region through actionable analytics, precision, and cutting-edge innovation. About CINET Kuwait Credit Information Network (CINET) seeks to provide inquiry services, credit score, and credit information in an innovative manner and with the highest levels of professionalism and trustworthiness. The company contributes to strengthening the credit system, improving the credit culture, and raising the degree of trust among clients in the credit community. The activities of the Kuwait Credit Information Network Company are subject to the control and supervision of the Central Bank of Kuwait. Law No. 9 of 2019 regulates the exchange of credit information. Executive regulations of Law No. 9 of 2019. For more information: Kuwait Credit Information Network Company Al Mirqab - Othman Bin Affan Street - Capital Tower - Floor: 35 Website:
