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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Trends

Libya wealth fund claimant denounces UN-backed govt’s plan

Posted on 24 August 2016

A claimant to the chairmanship of Libya’s $67 billion sovereign fund on Monday denounced the appointment by the country’s United Nations-backed government of a panel to run the fund, saying he had not been formally asked to step down.
Last week, the Government of National Accord (GNA) appointed a five-member caretaker committee to run the Libyan Investment Authority (LIA). The announcement was welcomed by Western governments, but it did not list AbdulMagid Breish amongst the panel members. The GNA was designed to resolve a conflict that flared up in 2014, when an armed alliance took control of institutions in Tripoli and the newly elected parliament relocated to the east………………………………………..Full Article: Source


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