Libya

April 2007 | Risk Summary

Flush with oil money, Libya has the means to safely manage the opening up of its economy, reduce public sector workers and promote the private sector without provoking a major backlash. In other countries, a plan to lay off over a third of the public sector workers would have been a major source of political risk. In Libya, they have not only introduced wage increases of up to 275% but also are promoting private sector growth via loans to individuals to set up businesses. In the longer term however, diversification of the economy and private sector development will be critical

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