Discourse on Libya remains fixated on the lethal and the lucrativeHafed Al-GhwellLibyan students attennd a local robotics competition in Tripoli on March 4, 2023. (AFP)Short Url https://arab.news/4x8frEven after 12 years, discourse on Libya remains fixated on the lethal and the lucrative — sidelining the role that the North African country’s finance and banking sector plays in perpetuating, even exacerbating, dysfunction mostly stemming from its discordant politics. Even prior to the post-2011 political instability, Libya’s financial sector was not sufficiently developed nor fully exorcised from the crippling legacy of decades of economic centralization. There was little incentive to modernize banking, bolster the financial sector and adopt better risk-management strategies. Libya will — for now — remain crippled by a finance sector inclined to subvert calls for its reform.

Source: Libya Today March 18, 2023 18:41 UTC