Libyan governor warns of economic collapse
Oil blockade is “bullet in the head” to civil-war torn country’s economy, Sadiq al-Kabir says
One of Libya’s central bank governors has warned that the civil war-torn country faces an “economic collapse” if it does not increase its oil production.
Governor Sadiq Al-Kabir said the country’s economy faced a “bullet in the head” from the collapse in its oil exports, media outlet Libya Observer reports. He told lawmakers in the capital city Tripoli that earnings from oil exports had collapsed from $53 billion in 2012 to almost nothing in 2020.
Many countries reliant on oil exports have
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