Libyan Sovereign Fund Reports Decrease in Frozen Assets

TRIPOLI: The Libyan Investment Authority (LIA), Libya’s sovereign wealth fund, has seen a decline in the value of its frozen assets abroad, with a reduction of $800 million in the year 2022.

According to Africa News Agency, the total value of assets decreased to $38.88 billion at the end of 2022, down from $39.68 billion at the end of the previous year. The United Nations, recalling the sanctions placed in 2011 against the regime of former leader Muammar Gaddafi, has maintained the freeze on the LIA’s assets, hindering the fund from actively managing its global portfolio of bonds and company stakes.