LIBYA

Libya Could Run Out Of Cash Sooner Rather Than Later

Dwindling oil production and low prices have slashed Libya’s export revenue and foreign reserves. But the main focus of the ‘official’ Baida-based government remains the expansion of its power base by setting up parallel institutions.

Libya foreign exchange reserves plunged by a quarter in 2014. Without an upturn in oil earnings the country could run out of reserves in two years, according to a report by the...