I think its pretty obvious that one of Libya's biggest challenges with their oil money is going to be corruption. The Sovereign Wealth Fund works well at limiti

I think its pretty obvious that one of Libya's biggest challenges with their oil money is going to be corruption. The Sovereign Wealth Fund works well at limiting corruption by drastically reducing the amount of money available, but ONLY if the level of corruption was low to begin with, and a high level of transparency maintained. On a hunch, I have a feeling that Libya does not have suitable conditions. However which way they decide to spend the money, I predict that large amounts will not be used as 'intended'. The difficulty of keeping corruption at a low level, even for such a 'benevolent' task of rebuilding a country should be clear from how badly Iraqi reconstruction went. Why worry about rebuilding the rest of your country when you can get a cut of money from a source NOT LINKED to the well being of your country.