In the Chaos of Libya – Part 3
In the Chaos of Libya – Part 3: The Economy
By Francesco Angelone
Libya is seeking its own political identity through elections, being these considered as an essential element in a democratic system. At the same time, it will have to decide which route to take in order to recover the economy after years of internal conflicts, which seem unlikely to end very soon. Therefore, the North African country’s transition – which, according to some observers, might be leading to a state failure or to an authoritarian revival – proceeds on a double-track.
If the Libyan political framework is very intricate and fragmented, divided between factions more or less easily to identify, the Libyan economy presents critical issues related to the energy resources management sector, which alone accounts for almost the entire State revenues.