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Libya oil corp, central bank rally around unity govt

Oil is Libya's main natural resource, with reserves estimated at 48 billion barrels, the largest in AfricaLibya’s National Oil Corporation and Central Bank, backbones of its wealth, have thrown their support behind a UN-backed unity government in a blow to a rival administration refusing to cede power. The two institutions, which have struggled to remain neutral since Libya’s 2011 armed revolt and subsequent turbulence, said they welcomed the Government of National Accord, in separate statements. Prime minister-designate Fayez al-Sarraj and members of the GNA arrived Wednesday in Tripoli where a rival government, unrecognised by the international community, has ruled since mid-2014.

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