Libya: an economy on life-support

In this September 8, 2010 file photo, Libyan leader Muammar Gaddafi fans his face during the Forum of Kings, Princes, Sultans, Sheikhs and Mayors of Africa in Tripoli. (Photo by AP)

In 1967, Colonel Gaddafi inherited one of the poorest nations in Africa; however, by the time he was assassinated, Gaddafi had turned Libya into Africa’s wealthiest nation.

Libya had the highest GDP per capita and life expectancy on the continent. Less people lived below the poverty line than in the Netherlands.

After NATO’s intervention in 2011, Libya is now a failed state and its economy is in shambles. As the government’s control slips through their fingers and into the militia fighters’ hands, oil production has all but stopped.

For over 40 years, Gaddafi promoted economic democracy and used the nationalized oil wealth to sustain progressive social welfare programs for all Libyans. Under Gaddafi’s rule, Libyans enjoyed not only free health-care and free education, but also free electricity and interest-free loans.

One group that has suffered immensely from NATO’s bombing campaign is the nation’s women. Unlike many other Arab nations, women in Gaddafi’s Libya had the right to study, hold jobs, divorce, hold property and have an income. The United Nations Human Rights Council praised Gaddafi for his promotion of women’s rights. When the colonel seized power in 1969, few women went to university. Today, more than half of Libya’s university students are women. One of the first laws Gaddafi passed in 1970 was an equal pay for equal work law.


Press TV’s website can also be accessed at the following alternate addresses:

www.presstv.co.uk

SHARE THIS ARTICLE
Press TV News Roku