Libyas Tripoli-based government has announced it is stepping down, according to a statement from the justice ministry.
The government says it is standing down to prevent further bloodshed. The announcement follows the formation of a UN-backed national unity government last week.
Since Libyas 2011 uprising, the country has fallen into civil war, with control of the country mainly divided between two rival governments, the General National Congress, based in Tripoli, and the House of Representatives, which is based in the eastern city of Tobruk.
The political problems are matched by a worsening financial crisis that has threatened the collapse of Libyas already ailing healthcare, education and social welfare institutions. Coupled with the decline in oil production, along with the collapse in global oil prices since mid-2014, Libya has been facing a crisis for two years now.