29.04.2011 - Freeze on Libya funds hurts Africa
Along with the oil and gas beckoning the imperialists in Libya are that country’s sovereign wealth funds — capital invested abroad. The Libyan Investment Authority, the Central Bank and other bodies manage more than $150 billion on five continents. Once the U.S. and the E.U. lifted the embargo in 2004 and the big oil companies returned, Libya maintained a yearly trade surplus of about $30 billion, used largely for foreign investments. Before launching a military attack on Libya, the U.S. froze the $32 billion the LIA had deposited in U.S. banks and the E.U. froze around $60 billion..............................................Full Article: Source
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