Economic analyst Waheed Al-Jabbo confirmed that the February Catastrophe and the collapse of the Libyan state apparatus following the criminal NATO raids in 2011 caused a large outbreak of corruption in Libya.
Al-Jabbo explained in statements to the “Independent Arabia” website that the political division that Libya suffered in the wake of the February Catastrophe, and the lack of state control over the institutions in which chaos erupted, was an opportunity for the corrupt to expand their activities amid the absence of any judicial accountability.
He added, “The corruption that spread in Libya caused the destruction of the economic fabric, especially after small and medium-sized economic institutions became unable to borrow. The banking system was also ended and the parallel market spread, due to the absence of security protection for banking convoys between Tripoli and the rest of the country’s cities.”
He went on to say, “The lack of efficiency in appointments, and reliance on tribal quotas and favoritism in financial institutions, led to huge losses in various sectors.”
He concluded by saying, “The solution is to return to a single, unified Libyan state, end the state of political division, remove all the corrupt people and those involved in the looting, and refer them to the judicial authorities. Pressure must be placed on the institutions whose powers have expired, and the executive authority, to hold elections as soon as possible.”
