The Telegraph reports that the Libyan Investment Authority (LIA) is about to appoint a senior executive from the World Bank to head up the organisation.
In what it describes as an attempt to restore the financial credibility of the crisis-hit country, Ahmed Ali Attiga is expected to be appointed as head of the $60-billion sovereign wealth fund by the end of the year.
Attiga was originally mentioned as a possible candidate as far back as early 2012.
Two previous chairmen, Mohammed Layas and Abdulmagid Breish, were forced out by authorities due to their positions of power during the Gaddafi regime.
Mr Attiga, who represents the World Bank’s International Finance Corporation in Jordan, comes from a prominent Libyan family associated with King Idris, the ruler before Gaddafi.
In a separate development, Goldman Sachs has dropped an attempt to have a case against it by the LIA thrown out by the High Court in London.
(Source: The Telegraph)