VOL. XXXIX

No. 52

23-September-1996

LIBYA

Libya Begins Distributing Oil Wealth; Says Sanctions Have Cost $18Bn

The Libyan news agency JANA reported on 19 September that the country's social security fund has opened bank accounts in foreign currencies for 50,000 families and has deposited $5,000 in each account. The move is the partial fulfillment of a promise made by Libyan leader Colonel Mu'ammar Qadhafi in 1992 and again in 1994 to distribute half of the country's oil earnings...