The outgoing head of Libya's sovereign wealth fund said a decision to sack him has left its restructuring plans and the pursuit of compensation for investment losses in limbo, potentially costing the country millions.
Some of the over-large cash component of Libya's $65-billion sovereign wealth fund will be put to work financing post-Gaddafi reconstruction, leaving time for a full review of its less liquid investments.
"I expect an immediate shri
Goldman Sachs and HSBC together held $335 million of the Libyan oil fund's assets, while Societe Generale held $1 billion in structured products for the fund, Global Witness said on Thursday.
The campaigning group for development issue