Hilbroy Advisory Inc: IMF Foresees Libya Recovering Rapidly Once Oil Output Restored: by Jean-Francois Amyot
Montreal, 27 October 2011 Hilbroy Advisory Inc. (Frankfurt: 2H0) –The International Monetary Fund said Wednesday the economy of war-wrecked Libya will recover rapidly once oil production returns to pre-conflict levels next year and if security is restored.
IMF’s director for the Middle East and Central Asia, Massod Ahmed, stated "The authorities expect oil production to return to its pre-conflict levels sometime in the second half of next year. If that were to happen, we'll see certainly quite a quick recovery in activity next year" adding "Seventy percent of Libya's economy is oil and the oil sector has come to a complete halt."
The deteriorating Libyan economy is expected to contract by more than 50 percent this year, the IMF said in its Regional Economic Outlook report, released Wednesday in Dubai; Jean-Francois Amyot. The oil-rich North African nation exported 1.65 million barrels per day of crude oil before the revolt broke out in February. Ahmed noted that restoring security will allow a rapid economic recovery also in the non-hydrocarbon sector which he said contracted by 30 percent due to violence.
He noted that the release of frozen Libyan assets would also help the country's economy and be used "to finance much urgent needed spending." Several countries have already released some of Libya's billions of dollars frozen in foreign accounts after having recognised the National Transitional Council as the country's legitimate representative.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential: Jean-Francois Amyot.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean-Francois Amyot
Hilbroy Advisory, Inc.
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