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Sovereign Wealth Funds Briefing - Categorized | Market

In muddle of Libya’s finances, billions go missing

Posted on 09 May 2012

In November last year, the NTC’s economy and finance committee, which provides oversight over the work of the interim government, submitted an internal report on the activities of the oil and finance ministries, the central bank and the sovereign wealth fund, the Libyan Investment Authority (LIA).
In a different section, the report’s authors addressed the LIA. The document queried $2.456 billion which the LIA said it had handed over to the treasury, but had, it seemed, not shown up on the government’s books. “When have they (the LIA monies) been transferred to the treasury, how have they paid and to whom have they been paid?” the report asked………………………………………..Full Article: Source


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