Libyan Investment Authority Seeks to Invest $68 Billion of Frozen Libyan Assets in Europe, America and Africa.

Published On(2021-06-18 15:22:21)

Tripoli, 18 June 2021(Lana) Press reports said the Government of National Unity, through the Libyan Investment Authority, is seeking to lift the freeze on Libyan assets in place since 2011, and which estimated at dozens of billions of dollars scattered in Europe 37%, North America 33%, Africa 23%, Middle East 6% and south America 1%.

The Authority renewed a demand that international sanctions on its assets be relieved, to allow it to transfer funds from a frozen account to another account, to avoid negative interest rates; to allow it to re-invest in overdue bonds and conduct new investments using frozen assets.

An independent report said the Authority approached the UN Sanctions Committee last month, shedding light on the negative impact of the sanctions on its portfolio, indicating that the investment portfolio could have its investment value raised to $40 billion had it not been subject to sanctions.