Libya's gross domestic product was $71.3 billion in 2010, according to IMF data, suggesting eight months of conflict cost the country's 6.5 million people around $35 billion. Bank payment systems broke down and the country had difficulty financing imports, the IMF said in its assessment of the economic toll.
But it was not yet clear if Libya would need aid from the IMF, because the country could count on the use of major international assets built up in past years and on its recovering oil output.
"At this stage, we have had no request for financing. It is premature to judge that," Masood Ahmed, the IMF's director for the Middle East and Central Asia, told Reuters in an interview.
"It depends on how quickly these resource flows from oil and from unfreezing of assets are made available."
An estimated $160-$170 billion of Libyan assets were frozen globally during the conflict and some of that amount is gradually being made available to the new government. Ahmed said the country's economic recovery could be quite fast if oil output recovered strongly.
"The expectation is that the oil production in Libya will begin to increase as much as up to 700,000 barrels per day by the end of this year. If that is the case, then the economy could recover relatively quickly," he said.
Ahmed also said an IMF team was currently in Egypt updating its assessment of that country's financing needs, but that again the fund had received no request for aid so far.
Egypt's finance minister said on Tuesday that local lenders had nearly reached the maximum they could provide to cover the country's budget deficit, so the government would have to seek funds from abroad.
Cairo is due to discuss the possibility of IMF aid with the Fund in talks this week, four months after it turned down a $3.2 billion loan deal. It has also been seeking funds from Gulf countries and other international lenders.
Egypt's economy was battered by the uprising that ousted President Hosni Mubarak in February, and since then uncertainty over the transition from military rule to an elected civilian government has continued to deter investment.
The IMF predicted on Wednesday that Egypt's GDP would grow just 1.2 percent this year and 1.8 percent in 2012, a sharp slowdown from 5.1 percent growth in 2010.
Analysts believe current growth is much too slow to create enough jobs for Egypt's young population. Ahmed said that in its talks with the Egyptian government, the IMF would discuss ways promote job creation and make economic growth more "inclusive", spreading its benefits more widely across the population.
"One lesson that we have drawn from the Arab Spring is that growth can only be sustained if the benefits of growth are shared more broadly, and if there is a sense that there is a more leveled playing field," Ahmed said.
A strong sense of nationalism in the wake of the uprising was one reason for Egypt's decision to reject the IMF's initial offer of aid.
Ahmed said it was too early to talk about any conditions that might be attached to IMF loans for Egypt, but made clear that the Fund would not try to impose policies on Cairo.
Any IMF loan program for Egypt "would be homegrown, progressive and delivered by Egyptian authorities", he said.
