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Subject
Divisions in financial institutions.
Significance
The finance ministry of the UN-backed Government of National Accord (GNA) on December 21 called for an urgent meeting of the board of the Central Bank of Libya. More effective financial institutions could provide a strong basis for political reunification and economic revival. Yet the political crisis, corruption and pre-existing weaknesses undermine these institutions.
Impacts
The GNA will struggle to finance consistent basic services and implement coherent economic policies.
Libyans will continue to lose confidence in the GNA, especially if the economy does not pick up.
The NOC will still court international oil and gas companies to attract new investment.
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2016
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