| In recent months the government and lawmakers have been discussing creating a sovereign wealth fund. A sovereign wealth fund was also suggested as an option by the International Monetary Fund (IMF) in its July 2014 staff report. Under Article 4 of the IMF Articles of Agreement – which sets out the obligations of members regarding exchange arrangements – the IMF conducted a consultation with Macau, the first since the handover of sovereignty in 1999.
The staff report describes Macau's economy as open and tourism dependent. Macau has no public debt and noteworthy fiscal reserves. The Macau financial system was highly commended in the report and the outlook appeared bright. Notwithstanding this, the IMF pointed out some changes that might occur in this framework in future...............................................Full Article: Source
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