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‘Gaddafi has 150 tons of gold,can pay mercenaries for years’

IMF claims that gold worth £4 billion is stored at at Libyan central bank under Gaddafi's control.

The International Monetary Fund has claimed that Colonel Muammar Gaddafi has stored 150 tons of gold worth four billion pounds at the Libyan central bank under the dictator’s direct control,enough to pay mercenaries for years.

The Daily Express quoted banking experts as saying that that many central banks hold their reserves in London,New York or Switzerland,but Gaddafi has always insisted that Libya’s gold remains near his home in Tripoli.

Britain,the US and other European countries have already frozen billions of amounts in Libyan assets after sanctions paralysed the central bank,its sovereign wealth fund and the state oil company.

The experts now believe that Gaddafi might have transferred the gold near to the borders with Chad and Niger,where it could be swapped for currency.

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First published on: 23-03-2011 at 14:14 IST
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