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

Brazil creates SWF against Congress’s wishes

Posted on 29 December 2008

From Brazzilmag.com: Luiz Inácio Lula da Silva, the president of Brazil, has signed a law creating a sovereign wealth fund to protect the country from the global financial crisis and help Brazilian companies boost trade and expand overseas.

The presidential press office said in a statement that Lula signed the law on Wednesday as well as a temporary measure founding the fund with the equivalent of almost US$ 6 billion….. Full Article: Source


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