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.