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Sovereign Wealth Funds Briefing - Categorized | Trends

Norway to Curb Krone gains as surplus lures buyers

Posted on 17 August 2011

Norway pledged to counter krone gains that threaten its exports as the widest budget surplus of any AAA rated nation draws investors seeking refuge from debt crises in the U.S. and Europe.
The government will this year seek to limit expenditure to 4 percent of its $550 billion sovereign-wealth fund, as stipulated by its fiscal rule. The Finance Ministry breached the rule in 2010 and 2009 in an effort to pad the economy against the fallout of the global crisis……………………………………….Full Article: Source


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