After weeks of unrest and financial chaos in Libya, the two rival governments seemed to be moving towards a resolution under a United Nations-brokered agreement. The clash, centered around the Central Bank of Libya (CBL), saw the internationally recognised Government of National Accord (GNA) in the west trying to replace CBL Governor Sadiq al-Kabir, leading to shutdowns in oil production. The situation highlights the power struggle between political and military elites in Libya since the overthrow of Muammar Gaddafi in 2011.
The CBL, which manages Libya’s oil wealth and funds imports of essential goods, has become a key player in the country’s stability. The recent turmoil has left salaries unpaid, cash scarce, and life in Libya continuing to deteriorate amid ongoing fighting and chaos. International efforts to stabilize the country by supporting elites have failed to address the needs of the population.
The ongoing crisis at the CBL, with both governments vying for control, reflects the decay and degradation of Libya’s systems over time. With national elections postponed and no clear path towards stability, the Libyan people are left to suffer while elites profit from corruption and smuggling. The region’s instability is further exacerbated by international ambitions using Libya as a staging point.
With over 1,000 deaths on the Central Mediterranean migration route this year, the human cost of the conflict in Libya is staggering. The West and UN’s diplomatic efforts have been criticized for enabling corruption and failing to address the root causes of the crisis. As the country continues to spiral into chaos, the Libyan people pay the price for the greed and blindness of the elites and the international community.
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