From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Libya Business News.
Almost eight years after the fall of Libyan leader Muammar Gaddafi, the country is deeply divided between east and west. A war economy has enriched armed groups and a battle to control the country’s oil fields is ongoing.
Libya’s $80bn in oil revenues and foreign reserves are managed by the government in Tripoli.
But General Khalifa Haftar, who has seized oil fields in the south and in the east of the country, has set up a parallel government in the east and his forces are advancing on Tripoli – igniting fears of renewed war. And as the country’s debt keeps piling up, there seems to be very little inclination for all sides to come together.
But who is funding Haftar? Who controls Libya’s oil? What’s the state of the economy in the divided nation? And what is at the heart of the ongoing conflict?