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

Cyprus: IMF expertise for gas wealth fund

Posted on 14 May 2012

The government has asked the International Monetary Fund (IMF) to carry out a study on setting up a hydrocarbons fund to manage the country’s gas wealth for future generations, Commerce Minister Neoclis Sylikiotis revealed.
Speaking from Paphos, Sylikiotis said the government was working methodically to create the necessary infrastructure to handle the hydrocarbon reserves in Cyprus’ Exclusive Economic Zone (EEZ). Cabinet already decided on the creation of a national hydrocarbons company, while the legal service has been asked to prepare its charter, he said………………………………………..Full Article: Source


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