14.03.2012 - Sovereign wealth fund to stabilise PNG economy
The much anticipated Sovereign Wealth Fund (SWF) bill passed by Parliament is a control mechanism to stabilise the revenue and expenditure to make sure there is tangible development in PNG economy. Director for Institute of National Affairs (INA) Paul Baker said that the government introduced SWF to control money coming in and going out of the country which will be invested or kept offshore and managed onshore. Baker said that SWF is replacing the trust account which recorded windfalls in 2008...............................................Full Article: Source
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