28.01.2013 - GSIS, SSS tapped for sovereign wealth fund
A wash with cash and with the peso exhibiting a worrisome strength vis--vis the dollar on the back of a steady stream of remittances, the government economic team is eyeing the creation of a sovereign wealth fund (SWF) that could be marshaled to take care of big-ticket items, like funding infrastructure projects. There are snippets of information that reveal that while the Bangko Sentral ng Pilipinas (BSP) could be tapped to provide the initial funding of about $20 billion from out of its gross international reserves (GIR) of $84 billion, the primary problem bugging the economic team is what agency would be tasked to take charge of the SWF...............................................Full Article: Source
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