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

Treasury’s forex phobia causes policy paralysis

Posted on 23 September 2011

Almost three decades after Paul Keating floated the Australian dollar, could it really be possible that Treasury economists are afraid of foreign currency?
This is one conclusion to be drawn from Treasury head Martin Parkinson’s comment this week that the federal government should wait until its debt is repaid before setting up foreign currency sovereign wealth funds to save windfall revenue from the mining boom. And a second conclusion is that Treasury won’t be trying to hasten the government’s repaying of debt by pressing for bigger surpluses……………………………………….Full Article: Source


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