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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

DJ Brazil House panel oks creation of SWF

Posted on 09 October 2008

From Trading Markets: Brazil’s lower house constitution and justice committee, by a vote of 33-2, Wednesday gave its approval for the creation of the government’s proposed sovereign wealth fund.

The bill must still be approved on the house floor and in the senate. The government has proposed launching a fund of between $10 billion and $20 billion to collect excess foreign exchange inflows and future oil revenues from the country’s recently discovered offshore subsalt oil reserves…… Full Article: Source


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