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Sovereign Wealth Funds Briefing - Categorized | Market

Following the Money in Libya

Posted on 12 October 2015

Muammar Gaddafi may have had many shortcomings, but grant him this: there was only one of him. When the Libyan Investment Authority was set up in 2006 to manage the country’s new oil wealth, it faced plenty of challenges, not least the idiosyncratic wishes of the Brotherly Leader and Guide of the Revolution of Libya as to where the money should be invested.
But at least there was no doubt about who was ultimately in charge. By contrast, today uncertainty seems to define the LIA, with two competing leaders each maintaining that they run the fund. Libya’s new unity government, announced on October 9, has put the leadership dispute into sharp focus………………………………………..Full Article: Source


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