Libya: Moammar Gadhafi's Billions May be Unaccounted For

Share
Copy

And based on the country's oil revenues and reports of investments around the world, El-Kikhia said he estimates an additional $60 billion has yet to be tracked in other countries, including Angola, South Africa, Uganda, and other places in Asia and Latin America.

The Economist Intelligence Unit estimates Libya's oil export revenue in 2010 was $45 billion. The country's gross domestic product that year was $90.57 billion using purchasing power parity, with a population of 6,597,960 people, according to the Central Intelligence Agency.

According to a reported cable from the U.S. State Department in January 2010, ambassador to Libya Gene Cretz wrote that Gadhafi's regime controlled $32 billion in liquid assets around the world. The U.S. State Department has not commented on any reported "leaked cables" by Wikileaks.

Global Financial Integrity, a nonprofit research firm in Washington, D.C., advocating against illicit global financial flows, said that $33 billion in Libyan money has been unaccounted for from 2001 to 2009, according to data from the World Bank and International Monetary Fund.

Monique Danziger, communications director with Global Financial Integrity, said Libya has the "spottiest" data reporting of the 162 countries that report financial figures to the IMF and World Bank.

"These are all puzzle pieces," she said. "No one can say they have a wholistic estimate. You're working with huge data gaps no matter what."

In the end, Powell said Gadhafi was an "absolutely atrocious leader" and arguably "the most eccentric leader in the world."

"Libya was stuck with the most incoherent governmental system in the world," Powell said.

Page
  • 1
  • |
  • 2
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
 
You Might Also Like...
See It, Share It
PHOTO: U.S. Customs and Border Protection officers at the George Bush Intercontinental Airport in Houston stopped a would be smuggler from bringing nearly 7 ounces of cocaine into the country in tamales, Aug. 22, 2014.
U.S. Customs and Border Protection
In this image from video posted on Facebook, courtesy of the George W. Bush Presidential Center, former President George W. Bush participates in the ice bucket challenge with the help of his wife, Laura Bush, in Kennebunkport, Maine.
(Courtesy George W. Bush Presidential Center/AP)
Real Housewife Phaedra Parks Lists Home in Suburban Atlanta
Real Housewives of Atlanta star, Phaedra Parks, has listed her 4,000-square-foot home with 5 bedrooms and 6 baths for $340,900.