Libya given $20bn of freed assets

Source: News24.com

Tripoli – Libya has received roughly $20bn in assets that were held overseas by Muammar Gaddafi’s regime and frozen during the conflict that ousted him, the foreign minister said on Tuesday.

An estimated $150bn of overseas assets were frozen following UN Security Council sanctions against his regime during the popular uprising and civil war that led to the dictator’s downfall.

On Tuesday, Libyan Foreign Minister Ashur bin Khayyal said most of the $20bn received so far by the country’s new government came from United States, France and other European states.

“I don’t have the exact figure, but I know that the first tranche is approximately $20bn,” Khayyal told reporters at an event focused on the future of the UN’s mission in Libya.

When asked by AFP if Libya had received these funds, Khayyal said: “Yes, it has been received,” but there has not yet been independent verification as to whether the money has been deposited with the Central Bank of Libya.

read more on NEWS24: http://www.news24.com/Africa/News/Libya-given-20bn-of-freed-assets-20120110

NOTE BY THE EDITOR: Why only a ‘part-payment’ of 20 billion$? Why not the full amount? This seems strange to me…

Categories: Africa, Economics, Libya, War

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