Pushing further economic reforms in Libya
On 25 October, International Crisis Group published an excerpt of its Watch List 2018 focusing on the economic situation in Libya. Libya saw in September the implementation of the first economic reform package since the Gaddafi regime fell in 2011. Pushed by the Government of National Accord (GNA), this reform package focuses on lowering the black-market exchange rate and increasing liquidity. According to Crisis Group, it constitutes a good first step towards economic stabilization in Libya. However, it is not sufficient under its current form to fully address Libya’s deteriorating economic situation. As a result, Crisis Group encourages the European Union (UE) and its member states to work with Libya’s government and economic institutions to push forward more thorough reforms and presents a set of recommendations.
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