The State Minister for Economic Affairs, Salama Al-Ghwail, said that the political status in the country has increased the margin of the financial gap, adding that negotiations with the International Monetary Fund (IMF) is related to technical and financing assistance.

In statements to CNBC Arabia news channel, Al-Ghwaili explained that Libya was not in need of financial support from the IMF to any great degree, stressing that the Libyan economy needs to increase oil production as a result of the present situation.

He indicated that the objective was to raise oil production to two million barrels per day, adding that there was a tendency to source private funding from external financing institutions in accordance with Libyan directives, laws, and legislation that protect the funds of investors.