Efforts to recover Libyan assets will face challenges

Significance

With an estimated USD100bn at stake, the Libyan Asset Recovery and Management Office (LARMO) was established in 2017 and is the sole official entity established to deal with this issue.

Impacts

• LARMO success in tracing missing funds would help boost Libya’s economic prospects and recovery.
• LARMO will find it difficult to pursue assets in countries where governing parties had ties with Qadhafi.
• The United States and the EU will extend technical and other forms of support to help LARMO track trafficked artefacts.