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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Trends

Multiple reshuffles stir up Libyan sovereign wealth fund

Posted on 22 August 2016

The Libyan Investment Authority is undergoing drastic changes, as key members resigned last week followed by Libya’s unity government appointing a new management team for the country’s main sovereign wealth fund Monday. The Presidency Council of the Tripoli-based Government of National Accord on Monday appointed a steering committee to temporarily assume the leadership of the LIA, Libya’s largest state fund worth approximately $67 billion.
The 5-member team will thus supersede two rival LIA chairmen, who have been vying for control of the LIA over the past two years. Hassan Bouhadi – the claimant supported by Libya’s Parliament and Interim Government in the east – resigned last Thursday, three days before the GNA order, arguing that he was unable to fulfil his mission given the current circumstances in the country………………………………………..Full Article: Source


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