| The last thing Libya needs is low oil prices. Racked by a civil war that's ground the economy to a halt, the nation, which holds the largest proven crude reserves in Africa, is burning through its cash reserves. The longer the conflict lasts, the more Omar (Masinessa) Khattaly, head of the Libyan Investment Authority's $5 billion real estate and hotel portfolio, fears for the future of the $67 billion sovereign wealth fund.
"I'm afraid if the situation remains at the level that it is at this point, I think we might see some trophy buildings out for sale in the market in the future," Khattaly said. "But I think LIA will not be the only sovereign wealth fund that will have to take that route. I think many sovereign wealth funds out there will have to do the same."..............................................Full Article: Source
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