Libya rebels in squeeze to manage ‘crisis economy’ FEATURE 05/02/2011

Libya rebels in squeeze to manage ‘crisis economy’

FEATURE

05/02/2011
BENGHAZI — The Libyan opposition is courting loans secured against oil revenues and the frozen funds of Moamer Kadhafi’s regime to manage a “crisis economy” in territories under its control.

“We are managing an economy that is in crisis in Libya’s liberated areas,” Ahmed al-Abbar, who manages the economic portfolio for the Benghazi-based Transitional National Council, told AFP in an interview.

He said the TNC’s top priority was to secure access to regime funds frozen abroad but, should this fail or fall short of needs, the focus would shift to opening credit lines with governments or financial institutions.

“If we are unsuccessful... then we will request loans secured against the frozen assets and oil. We all know that loans to Libya are guaranteed by the fact of its wealth.”.... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/commentary/20110502com3.html