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

East Timor’s petroleum fund in danger

Posted on 18 July 2011

Substantial changes proposed for East Timor’s Petroleum Fund law will expose the nation’s finances to high risk and open the door to corruption. Just a few years ago the fund was widely praised as a model of prudential and sustainable management, and a means of possibly escaping the “resource curse” of waste and corruption.

Most other sovereign wealth funds (such as Australia’s Future Fund, Brazil’s Fundo Soberano, Botswana’s Pula Fund, Trinidad and Tobago’s Heritage and Stabilisation Fund) maintain tighter controls on their assets……………………………………….Full Article: Source

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