Non-security Challenges to Libya’s economy

Outlet: Manara Magazine

Language: English

Abstract: Libya finds itself at a pivotal moment, navigating political turmoil and division a decade after the fall of Muammar Gaddafi's regime. Despite setbacks such as the collapse of national elections, the country's economic prospects remain promising, buoyed by its abundant resources and strategic location. However, entrenched challenges including overreliance on crude exports and institutional weaknesses present formidable obstacles to sustainable development. A cohesive national vision emphasizing Libyan identity and inclusive governance is imperative. Transitional justice and grassroots engagement are vital for fostering stability. The choice between elite consensus and elections poses complex dilemmas, compounded by the absence of a constitution. Procrastinating on resolving the impasse risks exacerbating instability and economic decline. Therefore, preserving institutions and charting a viable economic path beyond hydrocarbons are urgent priorities for Libya's future.

Read more on Manara Magazine.