Libyan economy on verge of collapse because of oil shutdown: Former banker

By Sami Zaptia.

London, 22 July 2020:

A former official at the Libyan Foreign Bank (LFB), Mohamed Hamuda, said that the country’s continued oil blockade will lead to further austerity measures in the coming period by the Tripoli-based Libyan government.

Speaking on Libyan TV on Saturday, Hamuda explained that the suspension of Libya’s oil exports since January this year directly affected the state budget of both Libya’s contesting governments in the east and west.

He added that recently published Central Bank of Tripoli data showed the magnitude of the significant decline in . . .

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