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AfricaAugust 29 2010

Farhat Bengdara

Farhat Bengdara, Libya's central bank governorThe governor of the Central Bank of Libya tells Stephen Timewell how a major overhaul of the national bank is playing a critical role in driving government plans to improve the efficiency of Libya's economy and promote the private sector.
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Farhat Bengdara

Q: Libya appears to be making significant reforms to improve its economy. How do you see the changes taking place and what is the role of the Central Bank of Libya (CBL) in those changes?

A: Libya has been implementing a comprehensive reform programme since 2006. This was the result of a decision taken by the government to move away from an ownership role in the economy to that of a prudent regulator. The entire economy is currently undergoing restructuring to improve its efficiency, diversify it away from oil and promote the role of the private sector. Reflecting the shift in policy, a private investment boom is evident and the private sector's share in the economy is growing.

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