LIBYA

Debts to Foreign Contractors Estimated at $4bn

Libyan debts to foreign contractors total some $4bn, with the biggest amount owed to Italian firms, according to a Financial Times report from Tripoli on 27 September citing unofficial sources. The country's financial problems are attributable to the sluggishness of the world oil market and "an over-ambitious development program," according to the report.

Libya's current crude oil production is averaging close to its...