Buoyed by relatively steady production of crude oil this year, Libya’s foreign exchange reserves rose to hit a five-year high $85.7bn at end-June, according to the country’s central bank. Foreign reserves reached an all-time-record in 2012, but the violence and chaos unleashed by the 2011 revolution saw oil revenues plummet due to sometimes years of forced shut-ins at key export terminals and oil fields. With its lifeline oil income slashed, Tripoli had no choice but to draw on reserves which fell to $70.2bn in 2016 (see chart). Since then, oil output has recovered but the country remains in turmoil.