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

Russia moves $43.7 bln from SWF to cover shortfall

Posted on 24 July 2009

From Bloomberg: Russia will transfer 1.36 trillion rubles ($43.7 billion) from the Reserve Fund, one of its two sovereign wealth funds, in the third quarter as the government tries to plug its first budget shortfall in a decade.
The Finance Ministry will use the cash to finance spending during the quarter, according to a decree signed by Prime Minister Vladimir Putin and published on the government’s Web site late yesterday………..Full Article: Source


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