Gadhafi Sold Gold From the Libyan Reserves

Gadhafi sold gold from Libyan reserves

Qassem Azzoz, the governor of the Libyan Central Bank informed that the former Libyan leader, Moammar Gadhafi, sold 20% of the gold reserves of his country for a price of one thousand million dollars in the last days of his regime.

Azzoz added that the weight of the gold was of 29 tons that were sold between different local merchants in the months of April and May. This occurred when Gadhafi was short on resources. According with the officials of the bank the gold had most likely been moved outside Libya into Tunisia.

However Azzoz pointed out that despite Gadhafi sold 20% of the Libyan gold, the country still have enough resources to reactivate its national economy and provide basic services. Azzoz also pointed out that for several years the former Libyan dictator had money outside the economic system. (AV)