Reply #16: Please provide more information [View All]

[tabatha]

"Let us not forget that until recently the west were doing very good business with Gaddafi. Western oil companies have been operating in the country for some time. Gaddafi was putting in place laws that would favour the development of private enterprise and the market. The IMF recently applauded the Gaddafi regime noting that, “An ambitious program to privatize banks and develop the nascent financial sector is underway. Banks have been partially privatized, interest rates decontrolled, and competition encouraged. Ongoing efforts to restructure and modernize the CBL are underway with assistance from the Fund.” Gaddafi’s son, Saif, was in fact a key promoter of “liberalisation”.

Gaddafi was going more toward privatization than ever before, so that is bull pucky.
(Btw, I dislike privatization.)