Mittwoch, 8. Februar 2012

Libya advancing or on hold ?

Nearly five months have passed since Tripoli fell and was taken over by forces of the NTC. Many people get impatient because they do not see things moving.
From the economic point of view quite some things have been accomplished, though: The cash crisis, going on for many weeks in November and December was resolved, the Libyan Dinar has kept its peg to the Special drawing right (SDR) and liquidity is back into the market. Basic infrastructure is not really working perfectly well, but water supply is stable, internet is getting more reliably and petrol is widely available at even lower prices than before (for my friends in Europe to get jealous: 0,08 Euro / liter).
However, electricity supply is an annoying problem since some time. Since November power cuts are frequent and in addition to not being able to work properly during the day, at night it is very cold.
Those expecting the big infrastructure projects to resume within a coupe of weeks after the declaration of liberation (23.November 2011) were taught wrong. It will definitely still take some time before they start again. And then we still don´t know which ones will start. It is obvious that restoring security and the upcoming elections are more important at the moment than building a highway.
However, in the private sector many positive signals can be seen: Many Libyans engage in trading (a handcraft they have learned over hundreds of years) and getting one or another company exporting their goods to one of the Libyan ports.
So let´s wait until the light turns green for companies to resume their work completely.

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