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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

Libya: Opposes use of sovereign wealth fund for budgetary needs

Posted on 17 September 2013

Libya’s economy could grow just 5 percent instead of around 18 percent predicted by the IMF this year if the country cannot end protests that have all but halted its oil exports, its central bank governor told Reuters.
Governor Saddek Omar Ali Elkaber said he opposed suggestions by some decision makers and politicians that the government could draw on Libya’s foreign exchange reserves or cash deposits in its $60 billion sovereign wealth fund………………………………………..Full Article: Source


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