This report from The Sentry examines the alarming expansion of kleptocracy in Libya, where ruling elites and armed groups systematically plunder national resources. The text details how the country’s fragmented banking system and the absence of a unified budget have allowed a small group of unelected power brokers to exploit state wealth for personal gain. This corruption is deeply rooted in the legacy of the Qadhafi regime, yet it has accelerated as rival factions in the east and west utilize black market networks and money laundering to bypass financial oversight. The authors argue that international policies focusing solely on avoiding armed conflict have inadvertently emboldened these corrupt leaders, thereby weakening essential institutions like the National Oil Corporation. Ultimately, the document warns that without urgent reforms to increase accountability and transparency, the ongoing looting of the state will lead to further institutional collapse and a high risk of renewed civil war.
