The Libyan Investment Authority, the sovereign wealth fund in which Muammar el-Qaddafi’s regime allegedly stashed and misused Libya’s oil wealth, has cast a dark shadow on SWFs all across the world.While no one should infer from the Libyan case that other SWFs are riddled with corruption and conflicts of interest, there are critical issues that are applicable to global corporations and funds.
Showing posts with label Libyan crisis. Show all posts
Showing posts with label Libyan crisis. Show all posts
Thursday, November 3, 2011
Tuesday, October 18, 2011
Libya's shadow on sovereign wealth funds
NEW YORK: As Libya's citizens rebuild their lives and economy, undoing the corruption in the Libyan Investment Authority (LIA), the sovereign wealth fund in which Muammar Gaddafi's regime allegedly stashed and misused Libya's oil wealth, is becoming a priority.
The National Transitional Council is debating who should take over Libya's Central Bank and the LIA's assets - an especially important decision, given that oil production is not expected to return to pre-war levels for several years.
The National Transitional Council is debating who should take over Libya's Central Bank and the LIA's assets - an especially important decision, given that oil production is not expected to return to pre-war levels for several years.
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