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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

President’s account of reserves use welcome

Posted on 23 February 2009

From Asiaone.com: President S R Nathan did well to give the media his account of events that have brought about the first draw on the nation’s past reserves. His explanation of the meticulous process of consultation and questioning was not so much a matter of clearing the air.

This would presuppose a conflict of opinion with the Government on the necessity of the move, when in fact the parties involved - the President, the Council of Presidential Advisers and the Government - were unanimous in concluding that the exceptional circumstances of a fast-slumping economy required exceptional action to avert catastrophe….. Full Article: Source


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