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08:16, 21 October 2014 Tuesday
16:49, 28 February 2013 Thursday

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Libya to replace head of sovereign wealth fund

Zeidan said senior LIA officials would meet in coming days to appoint a permanent replacement.

World Bulletin / News Desk

Libya will replace the head of its sovereign wealth fund, Mohsen Derregia, after the government deemed his performance unsatisfactory, Prime Minister Ali Zeidan said on Thursday.

Speaking at a news conference, Zeidan said deputy central bank governor Ali Mohammed Salem Hebri would temporarily take charge of the Libyan Investment Authority (LIA) until a permanent replacement was found.

"The head of the LIA will be changed. This is the government's policy. Whoever cannot do their job properly will be replaced," Zeidan said.

He added senior LIA officials would meet in coming days to appoint a permanent replacement.



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