| Macau’s government has been urged to create a sovereign wealth fund (SWF) to better manage its substantial fiscal reserves and buffer the territory against external shocks. Following a recent mission to the Chinese SAR, the International Monetary Fund (IMF) issued a report stating that the establishment of an SWF with a clear mandate would enable Macau to generate better risk-adjusted returns over a long horizon, as well as help to diversify its asset base.
According to the IMF, the territory’s fiscal reserves stood at 58.7% of its overall GDP in 2013, or close to US$30 billion. It also projected that Macau’s economy would grow by 9% this year and by 10% in 2015...............................................Full Article: Source
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