By Kharon Staff
Tuesday, April 20, 2021
A United Nations panel of experts repeated its call to impose sanctions on subsidiaries of the Libyan Investment Authority (LIA), citing mismanagement, a lack of transparency and other issues at the embattled sovereign wealth fund.
The LIA, established in 2006, has total declared assets of about USD 65 billion, according to the U.N. panel, which released its latest report on Libya in March. About USD 20 billion of the assets are in cash, much of it stored at the Libyan central bank, the U.N. said. A 2012 valuation posted on the sovereign wealth fund’s website had pegged its value at about USD 67 billion.