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LIA: The UN Panel of Experts report contains inaccurate information.

Pulbished on:

Tripoli, 10 February 2025 (Lana) The Libyan Investment Authority (LIA) expressed its objection to the content recently circulated on social media regarding the report of the UN Security Council’s Panel of Experts, stressing that the report contains inaccurate information and fundamental errors that require correction.

The LIA clarified in a statement that the entity that issued the report, which addressed some aspects related to the Authority, works in accordance with the resolutions of the UN Security Council, noting that the powers of the Panel of Experts are limited to assisting the Special Committee on Libya in collecting, examining, and analyzing information related to the Authority’s implementation of the freezing measures.

The panel also confirmed that its tasks are limited to preparing a report that includes an analysis of the information available to it, with opinions and recommendations that reflect the point of view of its members only, and that this content is not binding or final but is submitted to the Security Council as a tool to assist in making appropriate decisions.

LIA stressed that some paragraphs in the report contain fallacies and lack impartiality, indicating that it had officially responded to the report via a letter addressed to the Chairman of the Special Committee on Libya.

The authority highlighted that the report does not include any direct accusations but rather reflects the viewpoint of the team, which conflicts with the opinion of major international consulting firms, especially with regard to the investment proposals submitted by the LIA within the framework of an investment plan that requested the approval of the Special Committee.

LIA noted that it works with full transparency and protects its assets, and that the recommendations of the report of the Panel of Experts adopted by the Security Council in its resolution No. 2769/2025 represent an unprecedented achievement for it, as it will be able for the first time since 2011 to optimally employ its assets while those assets remain frozen, which will positively reflect on protecting assets.

The statement noted that some media reactions were the result of a misunderstanding and lack of knowledge of the scope of work and tasks of the Panel of Experts and the resolutions of the UN Security Council, which may negatively affect the reputation of the LIA and hinder the implementation of its strategic plan.

It also confirmed that the successes it has achieved recently, especially in the area of protecting its assets and preparing consolidated financial statements subject to audit by major international accounting firms, have become clear and obvious to everyone.

LIA expressed its complete rejection of the incorrect data contained in the report, noting its request to the Special Committee on Libya to review the methodology used by the Panel of Experts, which deviated from the scope of its mandate and is not consistent with the objectives of the freezing measures.

=Lana=