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SA scraps sovereign wealth fund plans

Posted on 21 May 2013

South Africa has shelved plans to set up a sovereign wealth fund - which will manage the country’s foreign reserves - due to declining metal prices.
“The creation of a sovereign wealth fund is best timed with stable or rising commodity prices,” Economic Development Minister Ebrahim Patel said in a written reply to a parliamentary question published on his ministry’s website on Monday…………………………………Full Article: Source


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