Libya's economy was humming along before trouble flared in the country six months ago.
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Economic growth reached 10.3 per cent last year, according to an IMF estimate, primarily driven by higher oil output.
"The fiscal and external balances remain in substantial surplus and are expected to strengthen further over the medium term, and the outlook for Libya's economy remains favourable," a report by the IMF executive board concluded on February 15.
Two days later, demonstrations against Muammar Qaddafi's rule started in Benghazi, a city in the east of the country. Six months later and the economy has remained paralysed by civil war.
Even before the unrest, however, Col Qaddafi's government was facing challenges as citizens complained of missing out on the benefits from the rapid economic expansion. Unemployment remained high among the young and growing population. The cost of food and other basic goods was also on the rise, reaching 4.5 per cent last year, according to the IMF. Higher oil revenue, increasing money in the economy and rising global commodity prices were the main reasons cited for the increase.
Attempts to diversify the economy away from a reliance on oil were having mixed results. Non-oil growth strengthened last year by 7 per cent, mainly as a result of big rises in public spending. New laws were also passed including the Libyan Investment Authority Law, aimed at enhancing the regulatory environment for investment.
But the IMF had long been urging the government to speed up reforms to diversify the economy.
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Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
ELIO
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Directors: Madeline Sharafian, Domee Shi, Adrian Molina
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Developer: EA Vancouver, EA Romania
Publisher: EA Sports
Consoles: Nintendo Switch, PlayStation 4&5, Xbox One and Xbox Series X/S
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What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
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Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
