Libya: crude implosion

While Libya may had already collapsed in political and security terms, yet another disaster loomed on the horizon: an economic crash which could soon unleash a humanitarian crisis if no solution was found. The main cause was the country’s economic structure: it was hugely dependent on oil to generate revenue, the majority of Libya’s population was employed by the public sector, and most of its food was imported.

Consequently, if the Libyan state went bankrupt, it would take large parts of the population down with it.

Issue Alert by Florence Gaub, José Luengo-Cabrera

ESO: Background information: Libya: law(s) and disorder http://www.europeansources.info/record/libya-laws-and-disorder/

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