Libya seeks investment opportunities in Europe, US
2009-03-18
The global financial crisis is a potential boon for Libya, as managers of the country's sovereign wealth fund look for real estate bargains in the West, the Financial Times reported on Tuesday (March 17th). "We want to benefit from the situation of the market today," LIA chief Mohamed Layas told the British publication. "It is a very good opportunity for us to look for good investments which we can buy in Europe, in the United States and in other markets." The $70b fund is reportedly avoiding risky financial sector investments, opting instead for real estate and utilities.
In related news Wednesday, Standard & Poor's Ratings Services assigned an A- long-term currency rating to Libya. Dow Jones quoted S&P credit analyst Ben Faulks as noting the country's "strong public assets and little debt, relatively low financial liabilities and solid medium-term growth prospects from its energy sector".
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Leonard Walker Posted 2009-10-16
You wrote a arctile about Libya investing in US real eastate. Who can I get in touch on this in Libya.
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