03.11.2014 - All Change Once More In Libya. Just Who Runs Its $65 Billion Wealth Fund?
Regular readers of this blog will know of the travails of the Libyan Investment Authority, the sovereign wealth fund entrusted with $60-65 billion of the country’s oil wealth. Today, it represents something of a split personality. On one hand, it is bold and dynamic, suing Goldman Sachs and SG for billions of dollars over disastrous investments that were sold to it prior to the financial crisis. On the other, it is a rudderless mess, incapable of maintaining leadership because nobody appears to trust anyone else, or their background. On Wednesday night came two new resolutions from the board of directors of the LIA, one (No 7 for 2014) removing Abdelrahman Benyezza as chairman, and the other (No 8) appointing Hassan Ahmed Bouhadi as his replacement. And so continues an apparently endless cycle...............................................Full Article: Source
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