14.08.2014 - IMF Urges SWF for China’s Casino City
Macau has been urged to create a sovereign wealth fund (SWF) and invest the billions in profits made from its engorged gambling industry. The International Monetary Fund (IMF) said the explosion of the betting tourism in the Special Administrative Region (SAR) since 2001 meant its government had received huge revenues over the last decade. “To ensure that public finances remain on a sound footing as the gaming sector matures and the population ages, they recommended the adoption of a medium-term budget framework,” an IMF report on the region said...............................................Full Article: Source
Print