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Libya's Central Bank suspends operations after kidnapping of staff

Libya's Central Bank suspends operations after kidnapping of staff

The Libyan state-owned but independent central bank is the only internationally recognized repository for Libya's oil revenues, a vital economic source for a country that has been torn apart for years by rival governments in Tripoli and Benghazi.

This comes a week after the central bank was besieged by armed militants, AFP reported.

According to local media quoted by AFP, the armed men carried out the attack in an attempt to force the resignation of bank governor Sediq al-Kabir.

President Kabir, who has been in office since 2012, has been criticized for his management of oil resources and the national budget.

Since the ouster and assassination of Libyan leader Muammar Gaddafi in 2011, the country has suffered from chronic instability.

The country is divided by power struggles and currently has two governments: the UN-recognized government is based in Tripoli, and in the east, it is supported by warlord General Khalifa Haftar.

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