31st August, 2011
RAF starts £1billion cash dash to Libya
The RAF has begun an audacious mission to fly almost £1billion worth of currency to Libya, despite fears over security in the newly liberated country.
Military aircraft were loaded with £130million of banknotes – some still bearing the head of ousted leader Col Muammar Gaddafi – to be handed to rebel leaders in their Benghazi stronghold.
It was the first tranche of 1.86billion dinars (£950million) released after Libyan assets held abroad were unfrozen.
The crates of freshly printed notes were meant to pay public sector workers over the Eid holiday.
But experts warned the country was still awash with weapons and there was no guarantee it would end up in the hands of those who needed it.
Anti-poverty campaigner Robert Palmer, from Global Witness, said: ‘This is almost £1billion of Libyan people’s money and they need to know it’s being handled fairly and competently.’
The notes were printed in Britain by the same company which supplies the Bank of England.
The first batch was sent on a flight with no troops to guard it; the Foreign Office insisted the currency would have to be ‘signed for’ by the Libyan central bank.
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Foreign secretary William Hague said it was a ‘major step forward’ in helping the Libyan people.
He added: ‘These banknotes, which were frozen in the UK under UN sanctions, will help address urgent humanitarian needs, instil confidence in the banking sector, pay salaries of public sector workers and free up liquidity in the economy.’
http://www.metro.co.uk/news/874086-raf-starts-1billion-cash-dash-to-libya#ixzz1WiU9YfTL
