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Sovereign Wealth Funds Briefing - Categorized | Financials, Research

Libya SWF has billions in US banks: WikiLeaks

Posted on 25 February 2011

From Abc.net.au: Libya holds billions of dollars in US bank accounts, according to a confidential US diplomatic cable, which casts light on the global span of the country’s oil wealth. According to a 2010 message from the US embassy in Tripoli, obtained by WikiLeaks, Libya’s sovereign wealth fund holds $US32 billion in cash and “several American banks are each managing $US300-500 million”.
The revelations were reportedly made by the fund’s boss, Mohamed Layas, who said most of the $US32 billion was “in bank deposits that will give us good long-term returns”………………………………………..Full Article: Source


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