October 2011, the last enclave of government/tribal resistance fell in Gaddafi's hometown of Sirte. Ghaddafi was captured and died from his wounds. The rebels have been recognized by the U.S. and the U.N. as the legitimate government. It remains to be seen how much of the billions of dollars held in foreign banks by the former regime will be released to the new government. It will be a year or longer before Libya can resume exporting oil at its pre-war capacity. | October 2011, the last enclave of government/tribal resistance fell in Gaddafi's hometown of Sirte. Ghaddafi was captured and died from his wounds. The rebels have been recognized by the U.S. and the U.N. as the legitimate government. It remains to be seen how much of the billions of dollars held in foreign banks by the former regime will be released to the new government. It will be a year or longer before Libya can resume exporting oil at its pre-war capacity. |