News24

Libya to review all investments

2012-01-08 13:09

Tripoli - Libya will review all its investments abroad, with some overseas projects expected to be stopped, Mustafa Abdel Jalil, the head of the ruling National Transitional Council, said on Saturday.

"There is a general view to review all contracts. There are countries where investments will increase, while in some other countries projects will be stopped," Jalil said at a joint press conference with visiting Sudanese President Omar al-Bashir.

"There are some investments that could be developed and others that it would be better to terminate for the good of the Libyan people."

Until its overthrow last year, the regime of Muammar Gaddafi invested vast sums of money in Africa, the Arab world and beyond, from a sovereign wealth fund set up in 2006.