| The central bank voiced objections to a proposal to turn foreign exchange reserves into a sovereign wealth fund (SWF) aimed at stimulating the nation’s economy. Academics have advised Premier Mao Chi-kuo to establish an SWF using foreign exchange reserves to generate higher returns that would benefit the economy as a whole.
“If an SWF is necessary, the government should first seek to pass a law for its establishment, management and oversight so it can operate legally,” the central bank said in a statement. The government is seeking a remedy for the softening economy after exports plunged by 13.9 percent last month...............................................Full Article: Source
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