This week, we saw the Central Bank of Libya announce that for the first time in nearly a decade, its two rival branches (in Tripoli and Benghazi) would be unified. This has been a major sticking point for stability because the Tripoli branch controls the oil revenues, even though Libya’s east (represented by Benghazi) largely controls physical oil. This is all happening against a complicated backdrop of what appears to be progress towards stability in Libya. This week, we saw the Central Bank of Libya announce that for the first time in nearly a decade, its two rival branches (in Tripoli and Benghazi) would be unified. This has been a major sticking point for stability because the Tripoli branch controls the oil revenues, even though Libya’s east (represented by Benghazi) largely controls physical oil.

Source: Libya Today August 25, 2023 13:48 UTC