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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, People

Dismissed head of Libya sovereign wealth fund stays put

Posted on 01 March 2013

Libya will replace the head of its sovereign wealth fund, Mohsen Derregia, after the government deemed his performance unsatisfactory, Prime Minister Ali Zeidan said, but so far he has refused to step down despite being told to do so days ago.
Speaking at a news conference on Thursday, Zeidan said deputy central bank governor Ali Mohammed Salem Hebri would temporarily take charge of the Libyan Investment Authority (LIA) until a permanent replacement was found. “The head of the LIA will be changed. This is the government’s policy. Whoever cannot do their job properly will be replaced,” Zeidan said. “Up until now he has declined to step down but he needs to do that.”……………………………………….Full Article: Source


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