Libya on brink of economic collapse – World Bank

‘The Libyan economy is facing collapse as the civil war is disrupting the country’s main source of income oil production, warns the World Bank.
“With oil production just a fifth of the potential, revenues have plummeted, pushing fiscal and current account deficits to record highs. With the dinar rapidly losing value, inflation has accelerated, further eroding real incomes,” the report said.
As a result of falling crude prices and low output, Libya’s foreign reserves have shrunk from $107.6 billion in 2013 to a projected $43 billion by the end of this year.’
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