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How Qaddafi Stays in Power

The New York Times detailed the vast amounts of money Qaddafi can tap into to buy the loyalty of political supporters, fuel his military operations and pay for mercenary groups to hound rebel groups. Over the years, Qaddafi hoarded vast sums within the Libyan Central Bank and other domestic banks around the country. This has made western efforts to freeze his assets difficult, leading some to predict he has enough cash to cling to power for some time. The funds have blunted the impact of the sharp decline in oil production since the conflicts began a month ago; the country typically pumps 1.8 million barrels per day – that number is now down to only 300,000-400,000.


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