Libya Unveils Share-the-Wealth Plan
The country’s leader, Col. Moammar Kadafi, unveiled a plan Thursday to distribute half of Libya’s oil wealth in cash grants to the people.
Kadafi’s announcement suggested that he was starting the scheme because of an acute economic crisis exacerbated by a year-old confrontation with the West over airliner bombings.
Under his plan, each family would be given $7,000 to $10,000 beginning early next year, Kadafi said.
He announced the plan as talk persists in New York that the United Nations might expand punitive sanctions against Libya for harboring suspected terrorists to include an oil embargo.
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