Thursday, 24. February 2011
Topic: POLITIK - on February 24, 2011 at 1:00:00 PM CET
Libya placed billions of dollars at U.S. banks - WikiLeaks
Libya's secretive sovereign wealth fund has $32 billion in cash with several U.S. banks each managing up to $500 million, and it has primary investments in London, a confidential diplomatic cable shows. The cable, obtained by WikiLeaks and revealing the details of a January meeting between the head of the Libyan Investment Authority (LIA) and the U.S. ambassador in Tripoli, comes as the United States and European governments explored the possibility of freezing assets belonging to the Libyan government.
LIA, the umbrella body for Libya's sovereign funds managing oil windfall revenues, is estimated to manage assets of around $70 billion with stakes in European bluechips such as Italian bank UniCredit and British publishing group Pearson.
... Comment
