国际货币基金组织：利比亚选定问题报告（英文版）

Libya’s exchange rate has experienced both appreciation and depreciation pressures over the past few years. This paper identifies the sources and quantifies the exchange market pressures on the Libyan dinar and finds that (i) the cumulative pressure on the exchange rate has been negative and (ii) despite the alternating appreciation and depreciation pressures, foreign exchange reserves have remained relatively stable. The findings suggest that additional monetary tools and the use of fiscal