Libya impoverished by fake salaries and fuel smuggling


Issue 306 - 07 Aug 2015 | 5 minute read

Two vital questions face the isolated guardians of the nation’s financial and natural resources. One is whether the Central Bank of Libya (CBL) will prevail in its campaign to only pay salaries to state employees with a national number. The second is whether the subsidies system can be replaced, thus removing highly lucrative incentives for smuggling fuel and other commodities, which are being exploited by both organised crime groups and extremists. The dire position of Libya’s finances has long been common knowledge, but, until now, most of the focus has been directed towards those responsible for interrupting oil exports

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