InternationalLNAMoney and BusinessNationalnewsPoliticsTerrorism

International Audit, Cyrenaica engagement, and reconciliation are needed to avoid another crisis in Libya, Int’l Crisis Group says

The Address | Benghazi – Libya

BRUSSELS – A recent report by the International Crisis Group (ICG) warned that another crisis in the Oil Crescent could occur if no certain measures are taken by the international community. Under a section titled “avoiding another crisis”, the Crisis Groups stressed the need for an independent international audit for Libya’s financial institutions, such as the Central Bank, which many accuse of corruption and mismanagement of public funds.

The report also stressed the UN need to engage Cyrenaica, eastern Libya, explaining that “much of the public in the east believe that this region, Cyrenaica, is the victim of historical injustice at the hands of central authorities, for instance getting a lesser share of oil revenues than its western counterpart, Tripolitania, despite producing over 80 per cent of the country’s oil. Easterners also accuse Tripoli of mismanaging public funds and failing to solve the country’s economic crisis.” The report also recommends addressing the security and reconciliation dimensions of the Libyan crisis.

The International Crisis Group is a transnational non-profit, non-governmental organization founded in 1995 that carries out field research on violent conflict and advances policies to prevent, mitigate or resolve conflict. It advocates policies directly with governments, multilateral organizations and other political actors as well as the media.


Related Articles