The turmoil surrounding the Central Bank of Libya raises questions about the legitimacy of the country’s institutions and, more importantly, the sovereignty of the state itself
Crises in Libya have been the norm for the last 13 years. They are unpredictable and can erupt at any time, over anything, no matter however ridiculous it is. Once a crisis appears, it has the potential to make the lives of ordinary people hell. Armed clashes could easily break out because of a squabble between two neighborhood militias in Tripoli. Such clashes quickly spiral into serious fighting, with Kalashnikovs being the weapon of choice.
Central Bank crisis
The latest predicament to hit the divided country involves the Central Bank of Libya (CBL), triggered by the decision to replace its governor, Sadiq al-Kabir, who has held the position since October 2011. On August 12, the country’s three-member Presidential Council issued a decree replacing Al-Kabir as the CBL’s…