Businessweek reports that Libya wants to obtain a credit rating from Standard & Poor’s rating agency.
The agencies suspended their assessment of the country following the uprising in 2011, but Central Bank Governor Saddek Elkaber (pictured) said Libya could maintain the ratings it had previously.
He added that he has been in contact with S&P and expects the rating to be awarded in the “coming months.”
(Source: Businessweek)
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What do we need a Credit Raring for? Is it to prove our ability to pay? Is it to be able to borrow? Or maybe to give S&P something to do after they persuaded us to do so????
Libya has its own main resource; the Oil. A country is full of oil. Yes, Libya is rich... But with poor level of professionalism and thinkers such as the person who came up with this S&P Libyan credit rating.
Therefore, the focus should be in sorting out the human resources by investing the oil in them. Such as investing in Libyan small business and create proper competition etc etc
Once again, libyan who are in charge are focusing or entertaining the wrong direction.