Political and financial divisions in Libya have been recurrent since 2014 and have caused deep-rooted corruption in all state institutions, thus dragging Libya down on the Transparency Index as it came among the lowest 10 countries that are plagued with financial and administrative corruption coming 170 in 2017 out of 180 countries on the list.
Arab newspaper reported the consequences of the political division in Libya and its ramifications on the Libyan frozen assets, knowing that Belgian authorities revealed that 10 billion dollars of the fastest frozen in its banks disappeared in 2017.
Corruption has reached the Presidential Council that spent about 10 billion dinars on forces and armed groups in the ongoing conflict in Tripoli between April and July this year, the Head of liquidity at the Central Bank of Libya in Al-Bayda, Ramzi Al-Agha told 218News.
The corruption and squandering of public funds got more serious after reports about transferring 100 million dollars to the Central Bank of Libya’s branch in Misrata so the armed groups can buy weapons and ammunition, Al-Agha said in his Facebook page.
