RAF flies £130m unfrozen cash assets to Libya

[jannyk]

Source: BBC

The RAF is flying £130m of Libyan banknotes (280m Libyan dinars) to Libya after an assets freeze aimed at Col Muammar Gaddafi was lifted. The cash, printed in the UK, is the first tranche of £950m that will be handed to Libya's Central Bank.

A Whitehall official said the money should be available for cash machines and banks in Libya very quickly. The currency was released following a decision by the United Nations sanctions committee in New York.

The official said the cash delivery, worth $1.55bn, should make it possible to pay many public sector workers over the Eid holiday. Many of those dependent on government salaries have not been paid for many weeks.


Germany has also asked for agreement to release about 1bn euros (£900m) in seized assets, while France wants to unfreeze about 5bn euros (£4.4bn) to help pay for humanitarian aid and keep essential services going in Libya.

Read more: http://www.bbc.co.uk/news/uk-14734420