Libya : Technical Assistance Report-Public Financial Management Reform Priorities in the New Environment.

Libya faces a number of challenges to establishing a robust, efficient, and transparent public financial management system. There is a need to establish a clear macrofiscal policy framework. The Sovereign Wealth Fund (SWF) should be a financing fund system with clear and rigid inflow and outflow rul...

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Bibliographic Details
Corporate Author: International Monetary Fund. Fiscal Affairs Dept
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2013.
Series:IMF Staff Country Reports; Country Report ; No. 2013/036
Online Access:Full text available on IMF
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520 3 |a Libya faces a number of challenges to establishing a robust, efficient, and transparent public financial management system. There is a need to establish a clear macrofiscal policy framework. The Sovereign Wealth Fund (SWF) should be a financing fund system with clear and rigid inflow and outflow rules and should be based on clear and regulated investment criteria. Under the existing legal and regulatory framework, budget expenditures cannot exceed the initial ceilings specified in the annual budget law. This should be strictly enforced. 
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