Ministry files complaint over fraud concerning Libya's debt

The finance ministry this week filed a criminal complaint against an unknown perpetrator in connection to possible fraud concerning the repayment of Libya's debt to the Czech Republic; the news was released by ministry spokesman Ondřej Jakob on Friday. Libya's debt for arms supplies dates back to former Czechoslovakia, amounting to several billion crowns. At the latest inter-governmental talks Libya produced a letter from 1997 questioning the existence of the debt. Earlier, Finance Minister Miroslav Kalousek said the document was a forgery.

The settlement of Libya's debt is still to be negotiated by Czech and Libyan representatives. The original debt was about 3 billion crowns (the equivalent of around 165 million US dollars), but according to some recent estimates, the debt with added interest now exceeds 4.5 billion.

Author: Jan Velinger