Libya is facing a power struggle as the country’s Central Bank has been pulled into a dispute. The North African nation has been embroiled in conflict since the overthrow of Muammar Gaddafi in 2011, with various factions vying for control. The dispute over the Central Bank is just the latest in a series of challenges facing the country.
The Central Bank of Libya plays a crucial role in managing the country’s finances and ensuring the stability of its economy. However, it has now become a battleground for rival factions seeking to exert influence and control over the country’s financial resources. This has raised concerns about the bank’s ability to continue functioning effectively amid the ongoing power struggle.
The dispute over the Central Bank is part of a larger power struggle between the UN-recognised Government of National Accord (GNA) in Tripoli and the rival administration based in eastern Libya. The two sides have been at loggerheads for years, with each claiming legitimacy and control over key institutions, including the Central Bank.
The involvement of the Central Bank in the power struggle has raised fears about the impact on Libya’s already fragile economy. The country has been struggling with high inflation, a lack of basic services, and rampant corruption, and the latest developments threaten to further destabilize the situation.
The international community has called for a peaceful resolution to the dispute and urged all parties to respect the independence and integrity of the Central Bank. The ongoing power struggle in Libya highlights the challenges facing the country as it seeks to rebuild and establish a stable and prosperous future for its people.
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