Tag Archives | Adam Nathan

Haftar’s Forces Advance on Tripoli

By Adam Nathan (@adamgnathan). The international community has called for calm and restraint in Libya as forces loyal to General Haftar (pictured) moved steadily closer to the capital Tripoli. On Thursday, Haftar’s forces took over Gharyan, a town 100km south of Tripoli. By 3pm local time on Friday, his self-styled Libyan National Army (LNA) had seized […]

Head of Libya’s $66bn Sovereign Wealth Fund Resigns

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 […]

Finance Ministers discuss Libya’s Challenges

By Adam Nathan. The Libyan Minister of Finance Dr. Osama Hammad participated Thursday in Malta in launching the meeting of the finance ministers of the Group 5 + 5 for the countries of the Mediterranean Basin on the economy and finance. The second meeting, which takes place two months after the first meeting held on […]

Interview: New LIA boss plans to fund Libyan Infrastructure

By Adam Nathan. The newly-appointed Chief Executive Officer (CEO) of the Libyan Investment Authority (LIA), the country’s sovereign wealth find, which holds $67 billion of assets, said he is seeking to work and co-invest with international investors including major oil companies to boost his country’s wealth. In his first interview with the media, Mr Ali Shamekh […]

Govt plans “Unity Army” to Halt Internal Conflicts

By Adam Nathan. The Government of National Accord (GNA) of Libya is planning to build a new ‘unity army’ to stem conflict between rival militias in the country. “Our strategy currently is to inform different military groups that we welcome anyone willing to join the new army but also making it clear they will have […]

Liquidity Crisis: 26bn Dinars “Hidden Under Mattress”

By Adam Nathan. The new Government of National Accord (GNA) of Libya is working with the Central Bank of Libya (CBL) to encourage people to put their money back into the banks to end Libya’s liquidity crisis. An on-going liquidity crisis in Libya sees regular long queues outside banks to withdraw Libyan dinars and foreign […]

Libyan Electricity Crisis Nears End

By Adam Nathan. Libya’s electricity shortage crisis should be over within two months, a senior government official has pledged. Deputy Prime Minister Ahmad Maiteeg, who is coordinating government and private sector action on the problem, told Libya Business News: “We hope in eight weeks the situation will get much better. But the problem is we […]

Govt: “Quick Win” Projects for Foreign Investors

By Adam Nathan. Libya’s Deputy Prime Minister has called for foreign companies to come back to Libya and work on key infrastructure and “quick win” projects with the new government in Tripoli. In an interview with Libya Business News, Deputy Prime Minister Ahmed Maiteeg (pictured), a businessman politician from Misrata and key figure in the Government […]