Libya, a mostly desert and oil-rich country with an ancient history, has more recently been known for the 42-year rule of the mercurial Colonel Muammar Gaddafi - and the chaos that has followed his departure (BBC, 2019).
The attack on Tripoli in early 2019 and the blockade of Libya’s major oil ports and terminals in January 2020 have together caused the most serious political, economic, and humanitarian crises Libya has faced since 2011. The Libyan economy has now been hit by four, overlapping shocks: an intensifying conflict, which suffocates economic activity; the closure of oil fields, which puts its major income-generating activity largely on hold; decreasing oil prices, which reduce income from surviving oil fields; and the COVID-19 pandemic, which further threatens the economy (World Bank, 2020).
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