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Sovereign Wealth Funds Briefing - Categorized | Financials

Oil-rich Libyans won’t need financial aid

Posted on 24 August 2011

Libyan rebels needed NATO’S military might to bring Muammar Qaddafi’s rule to the brink of collapse. About $50 billion in cash abroad means they can do without foreign aid to rebuild the country after a six-month conflict.
The central bank and the Libyan Investment Authority, the country’s sovereign-wealth fund, have about $168 billion in assets abroad. About $50 billion of that is in bank deposits in European countries including Germany, the U.K., France, Italy, Portugal, Spain, Sweden, Belgium and the Netherlands,………………………………………Full Article: Source


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