By John Lee.
The head of the $66-billion Libyan Investment Authority (LIA) has reportedly resigned.
Ali Shamekh (pictured) said that that divisions within Libya had made it impossible for him to implement a viable program at the sovereign wealth fund, according to a report from Reuters.
He also repeared his warning that the LIA’s assets were at risk if there was no unity within the LIA.
In his first interview with the media following his appointment in 2016, Mr Shamekh told Libya Business News that he wished the LIA would work as one organisation and that its assets should be unfrozen as soon as possible in line with Libyan and international Laws in order to boost the oil industry, which is in urgent need of investment.
He told Adam Nathan that he was seeking to work and co-invest with international investors including major oil companies to boost his country’s wealth.