Libyan Central Bank warns of Financial Collapse

By Al-Monitor staff. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Libya Business News.

Libyan Central Bank warns of financial collapse if oil production not restored

The near halt of Libya's oil production and exportation amid the civil war could cause the country's economic collapse, the head of the Tripoli-based Central Bank of Libya warned on Tuesday.

Al-Saddiq al-Kabir [Saddek Omar Elkaber] (pictured) told Tripoli's parliament that shutdown of the country's oil production and exportation since 2013 has cost Libya some $180 billion in losses, which he called "a bullet in the head" to the country's economy.

Click here to read the full article.

No comments yet.

Leave a Reply