Libya: Economically damaging stalemate at best, sustained violence at worst
- Libya’s new civil war is not only threatening any progress in building a stable state, it is in danger of turning into a regional proxy war.
- The IMF expects 2019 real GDP at 4.3% based on oil production at around 1 Mb/d. But such growth will be difficult to attain in a country in conflict and with the oil sector subject to constant supply disruptions.
- Hoping to restore its oil industry to full capacity, Libya is extending its links with China for assistance. It has signed a memorandum of understanding with the China National Petroleum Corporation covering investments and trading of Libyan’s oilfield services.
Florence Eid-Oakden, Ph.D, Chief Economist
Charlene Rahall, Analyst
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