Libya’s Central Bank at the heart of political disputes
In his latest article published on 1 April with War On the Rocks, Jalel Harchaoui argues that Libya’s most important financial institution, the Central Bank of Libya (CBL), is increasingly at risk of becoming the target of maneuvers by Libyan factions to gain power. Harchaoui demonstrates that while a military offensive on Tripoli would be too risky, General Haftar’s strategy to increase his control over Libya could be to focus on the CBL. The institution, chaired by Sadiq al-Kabir, reportedly holds more than $70 billion of foreign-exchange reserves. The article presents the different national, regional and international actors which have attempted in a way or another to influence the control of Libya’s CBL. He notes that the lessened involvement of the United States in Libya puts at a greater risk Libya’s resources.
Click here to read the full article.