December 24, — King Idris I proclaims the independence of Libya. Retrieved 27 November Security Council Resolution prohibiting illicit crude oil sales. October 20, — Gadhafi dies of a gunshot wound to the head after being captured by rebel forces in his hometown of Sirte, Libya. The deficit is expected to be financed through cash advances from the Tripoli Central Bank and the issuance of government bonds in the east of Libya.
