Libyan investment chief: We need to manage frozen assets | GulfNews.com:
"The Libyan Investment Authority (LIA) is drafting a proposal to the United States and European Union seeking management of its assets despite challenges from its former chairman who says that the country is too unstable for such a move.
The LIA’s international assets, which constitute a third of the $67 billion (Dh245.9 billion) sovereign wealth fund, have been frozen since 2011 when the country overthrew dictator Muammar Gaddafi. The Libyan government had an option to unfreeze the assets a year later, however, it decided to stick with the status quo.
The LIA is now proposing that the assets remain frozen but that it be allowed to be in the “driving seat” so that it can manage them “for the benefit of the Libyan people,” Hassan Ahmad Bouhadi, Chairman of the LIA Board, told Gulf News in Dubai on Tuesday."
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