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

UAE should spend SWF to revive economy-advisory chief

Posted on 02 February 2009

From Aawsat.com: The United Arab Emirates should spend part of its sovereign wealth fund to revive the economy and must delay property projects as demand vanishes, the head of its advisory council said on Saturday. Abdul Aziz al-Ghurair, speaker of the Federal National Council (FNC) which advises the rulers, also said the government must inject more liquidity to boost the economy but banks were sound due to their high capital adequacy ratios.

The UAE is home to the world’s biggest sovereign wealth fund as the Gulf nation has kept massive oil windfall revenues to preserve wealth for the future generation. Analysts estimates assets at the Abu Dhabi Investment Authority are worth around $500 billion….. Full Article: Source


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