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Article: Tripoli takes a step back: the sacking of Libyan Prime Minister Shukri Ghanem has raised serious concerns about Tripoli's commitment to economic reform.(National Oil Corporation )
- Article from:
- MEED Middle East Economic Digest
- Article date:
- March 10, 2006
- Author:
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Shukri Ghanem has not made public his views on being sacked as Prime Minister of the Socialist People's Libyan Arab Jamahiriya. But it seems likely that his overriding feeling will be one of relief.
Two-and-a half-years after being appointed General Secretary of the General People's Committee with an apparent mandate from Libyan leader Muammar Qaddafi to modernise the country's failing state economy, Ghanem has little to show for his efforts.
His attempts to privatise several hundred state-owned enterprises, mostly uneconomic farms and factories, attracted little interest from investors. And an ambitious programme to cut government subsidies on fuel, ...