Libya - 01

Libya: CBL Reserves May Last Three Years Due to Spending Cuts

Throughout the civil war that erupted in summer 2014, UN officials and Western diplomats have repeatedly expressed concern over its impact on Libya’s finances, particularly the rate at which the country is burrowing into its foreign reserves. In interviews with Horizon, some CBL officials have sought to assuage those worries, saying the situation was not as grave as was thought. Others, however, have publicly warned that Libya faces a serious crisis as a result of how much it has eaten into its reserves.

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