Thursday, November 3, 2011

Libya looks to IMF

Now that the Libyan civil war is over, you would think the West would allow Libya to access her overseas assets so she could begin the reconstruction process. You would be wrong. In total, Libya has $170 billion in overseas assets. But foreign governments have allowed Libya to access only $1.5 billion of that.

So after destroying Libya, the West appears to have no intention of allowing Libya to use her own money to pay for her reconstruction. This is presumably because those overseas assets are really loans that Libya provided to the West. Were Libya to liquidate her overseas assets, the West would have to scrounge up the money to repay those loans. And the last thing the West wants to do is repay a loan.

Trash till the end.

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