John Kerry and Boris Johnson are hosting crisis talks with Libya’s leaders in London in an attempt to ward off the collapse of the country’s war-torn economy.
The World Bank has said Libya’s economy is near collapse as the civil war worsens and bank reserves plummet.
In a US-led initiative, the US secretary of state and UK foreign secretary, joined by the International Monetary Fund and World Bank, planned to urge Libya’s embattled prime minister, Fayez al-Sarraj, to enact drastic reforms.
Libya’s economy has atrophied and with oil exports down, the bulk of the 6 million-strong population depends on fast-depleting foreign reserves.
One western official said Sarraj would be urged to mend fences with the Central Bank of Libya governor, Saddek al-Kabir, who has accused the prime minister of failing to formulate an economic policy. “It is making clear the severity of the situation and the need to act,” the official said.