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

Bank of PNG confident in sovereign wealth fund

Posted on 11 April 2013

Bank of PNG deputy governor Benny Popoitai is confident that the sovereign wealth fund (SWF) will be up and running before first LNG exports next year. “We hope to have the legislation amended to effect the changes so that we can establish the SWF and have it running before the LNG revenue hits our coffers,” he said.
“The SWF has its own challenges. We’re gone through several changes and different people have different views, but the intent is to stabilise the economy. How the money is spent is something else. The primary objective of the SWF is to give stability to the economy to prevent what we call the Dutch Disease, too much money chasing too few goods in the country, thereby increasing prices through the roof……………………………………..Full Article: Source


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