Libya’s ongoing leadership dispute between rival governments has resulted in the suspension of oil production, a critical source of revenue for the country. The central bank, which controls billions of dollars in oil revenue, is at the center of this political feud, with the governor fleeing the country out of fear for his safety.
For over a decade, two rival governments have been vying for power, influence, and control of Libya’s vast oil reserves. The internationally recognised government in the west recently replaced the central bank governor, prompting objections and the halting of oil production by the administration in the east, which operates most of the oil fields.
The implications of this latest feud on the Libyan economy remain uncertain, with concerns rising about the potential escalation towards civil war once again. The dispute has not only disrupted oil production but also raised questions about the stability and future of Libya as each faction continues to vie for power and control.
In a discussion on the matter, historian and political researcher Faraj Najem, senior Libya analyst Claudia Gazzini, and independent Libyan academic Mustafa Fetouri provide insights into the implications of the leadership dispute on Libya’s economy and the potential for further conflict within the country. The situation remains fluid, with the international community closely monitoring developments in Libya as tensions continue to escalate.
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