After weeks of turmoil in Libya, with the closure of the Central Bank of Libya leading to unpaid salaries and cash shortages, the country’s rival governments appeared close to accepting a UN-brokered agreement to resume operations. However, the situation quickly reverted to a familiar deadlock. The Government of National Accord (GNA) in the west attempted to replace CBL Governor Sadiq al-Kabir, leading to protests from the Government of National Unity (GNU) in the east, which controls much of the country’s oil production.
The CBL remains crucial for Libya’s access to hard currency and funds most of the country’s imports. Despite efforts to restart operations, the international community has struggled to find a resolution as the country’s elites focus on their own interests, leaving ordinary Libyans in turmoil.
The ongoing struggle is rooted in the 13-year rivalry between political and military elites since the overthrow of Muammar Gaddafi in 2011. International efforts to stabilize Libya by supporting these elites have failed, with access to assets and power being prioritized over the needs of the population.
The prospect of national elections remains distant, with both governments vying for control while state institutions deteriorate and fail. The human cost of the conflict is evident, with over 1,000 refugees and migrants dying on the Central Mediterranean migration route this year.
Amidst the chaos and corruption, the West and the UN have been criticized for enabling corruption by legitimizing unelected and corrupt elites. The Libyan people continue to suffer while the elites and international actors prioritize their own interests. It appears the country is locked in a cycle of delusion and greed, with no end in sight.
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