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Examples
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Youssef Kabbaj , the Goldman executive in charge of North Africa, became a frequent presence at the Libyan Investment Authority as the investment bank worked to expand the relationship.
Libya's Goldman Dalliance Ends in Losses, Acrimony Margaret Coker 2011
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In July 2008, Mr. Zarti, the fund's deputy chairman, summoned Mr. Kabbaj, Goldman's North Africa chief, to a meeting with the fund's legal and compliance staff, according to Libyan Investment Authority emails reviewed by the Journal.
Libya's Goldman Dalliance Ends in Losses, Acrimony Margaret Coker 2011
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Mr. Kabbaj and emerging-markets trading chief Mr. Ben-Brahim left Goldman later in 2008 to join hedge-fund firm GLG Partners Inc. and were not part of later negotiations.
Libya's Goldman Dalliance Ends in Losses, Acrimony Margaret Coker 2011
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One person who attended the meeting says Mr. Zarti was "like a raging bull," cursing and threatening Mr. Kabbaj and another Goldman employee.
Libya's Goldman Dalliance Ends in Losses, Acrimony Margaret Coker 2011
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Despite this improvement, Kabbaj said more relief was needed.
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Kabbaj said it was "essential that the bank continue to center its operations on battling poverty."
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Kabbaj said the bank planned to carry out a decentralization plan, creating 25 offices by the end of 2006 "to be closer to the member states and their needs."
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The average growth rate was still "far below the level required to achieve the Millenium Development Goals," said Kabbaj.
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But Africa had to "continue to accelerate its rate of growth in order to increase revenues and reduce poverty, and assistance on this front from the international community remains essential," said Kabbaj.
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Kabbaj said African nations needed continued outside help in the sectors of public development aid, which needs to be increased; debt reduction, aimed at reducing debt servicing to manageable levels; and reforming world trade rules to favour development, as outlined in the Doha round of World Trade Organisation (WTO) talks.
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