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Gaddafi regime sold 29 tons of gold

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London Independent
Sept 8, 2011

The new governor of Libya’s central bank says the former regime sold about 20% of the country’s gold reserves to cover salaries amid the uprising that ousted Muammar Gaddafi.

Qassim Azzuz told reporters that Gaddafi’s regime sold 29 tons of gold to local traders in April, netting about 1.7 billion dinars (£870 million) for the then-embattled regime which was under UN sanctions.

Libya is believed to have about 145 tons of gold reserves.

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This article was posted: Thursday, September 8, 2011 at 9:17 am

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