Libya spends foreign reserves to offset oil losses - WAOW - Newsline 9, Wausau News, Weather, Sports

Libya spends foreign reserves to offset oil losses

TRIPOLI, Libya (AP) -

Libyan Prime Minister Ali Zidan says the government has allocated $7 billion of its foreign reserves to offset the loss of oil revenue caused by militias shutting down oil terminals and halting exports since the summer, and that it will need $6 billion more.

Zidan spoke Wednesday, as militias and tribesmen based in the east escalated their pressure on his government by saying that the oil terminals will not open until the government agrees to set up a committee with representatives of the country's three regions to divide up oil revenues.

Eastern groups demand the creation of a federal system in which each region has some autonomy. They say the east suffered from marginalization and unequal distribution of wealth under ousted dictator Moammar Gadhafi.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WAOW. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Chief Engineer Russ Crass at 715-842-2251. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at