Libya Premier Asks Wealth Fund Head to Step Aside After Firing

Libyan Prime Minister Ali Zaidan said the head of the country’s sovereign wealth fund should step aside and allow his successor to take over after he was fired.

“We are hoping that Mr Derregia will do the right thing and step down,” Prime Minister Ali Zaidan told reporters yesterday in Tripoli, referring to Mohsen Derregia, Chairman and Chief Executive Officer of the fund, who was fired recently.

Derregia is refusing to leave his post and hasn’t given a reason for his attempts to remain in his position. Ali Mohamed Salem Hebri, deputy governor of the Central Bank of Libya, is set to take over.

To contact the reporter on this story: Brigitte Scheffer in Dubai at bscheffer@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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