Speaker of the Libyan House of Representatives (HoR), Ageela Saleh, has reappointed Ashraf Saleh Mansour as Acting Chairman of the Libyan Investment Authority (LIA) following the death of its previous chairman, Hussein Mohamed Hussein.
The decision, dated December 11, 2024, was communicated in an official letter from the HoR Speaker’s Office to Mansour. It confirmed his continued role in overseeing the institution after the sudden loss of its previous leader.
The LIA, like other Libyan institutions, remains embroiled in political and legal conflicts. On April 16, 2024, the government appointed by the HoR, led by Prime Minister Osama Hammad, announced a ruling from the Ajdabiya Primary Court. The court’s decision involved appointing a judicial guardianship committee to oversee the LIA’s funds, assets, and revenues.
The ongoing power struggles surrounding the LIA reflect broader divisions within Libya’s political landscape as competing factions vie for control over the country’s key financial and institutional resources.
Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations.
Libya’s economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya’s economy.
The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions.
The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition.
Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges.
