February 28, 2013 / 2:41 PM / 5 years ago

Libya to replace head of sovereign wealth fund -PM

TRIPOLI, Feb 28 (Reuters) - Libya will replace the head of its sovereign wealth fund, Mohsen Derregia, after the government deemed his performance unsatisfactory, Prime Minister Ali Zeidan said on Thursday.

Speaking at a news conference, Zeidan said deputy central bank governor Ali Mohammed Salem Hebri would temporarily take charge of the Libyan Investment Authority (LIA) until a permanent replacement was found.

“The head of the LIA will be changed. This is the government’s policy. Whoever cannot do their job properly will be replaced,” Zeidan said.

He added senior LIA officials would meet in coming days to appoint a permanent replacement. (Reporting by Ali Shuaib; Writing by Marie-Louise Gumuchian)

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