02.10.2013 - AfDB backs sovereign funds for resource-rich nations
Resource-rich countries should curb illicit financial outflows and set up sovereign wealth funds to manage windfall revenues from hydrocarbon and mineral exports, a senior African Development Bank (AfDB) official said on Monday. Steve Kayizzi-Mugerwa, development research director at AfDB, said African countries could finance most of their development needs through their own resources without depending on external debt if they properly managed their wealth...............................................Full Article: Source
Print