Chaos-ridden Libya's economy on the brink, say experts

Political stalemate and the conflict rocking Libya are preventing the North African country from taking advantage of its vast oil resources and pushing the economy towards collapse, experts say. When the 2011 uprising toppled the regime of dictator Moamer Kadhafi, Libyans dreamt of transforming their country into another Dubai. The World Bank reports a "substantial loss in real purchasing power of the population", with basic food prices leaping 31 percent in the first quarter of the year.