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Libya's economic track could undo political progress

Monday, March 1, 2021

Significance

Unifying the budget would in effect guarantee funding to eastern Libya for the year -- a prospect unpalatable to western Libyans who suffered from eastern military commander Khalifa Haftar’s assault on Tripoli in 2019-20. However, the dialogue is also essential to unify the country and begin rebuilding.

Impacts

  • Turkey is banking on the incoming government to enhance business ties.
  • If a new central bank governor is more friendly to Egypt, or Cyrenaica, then Turkey could lose privileges and find new trade barriers.
  • President Mohamed Mnefi will aim to grow his own constituency in Cyrenaica, opposing Haftar and Parliament Speaker Aguila Saleh.
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