19.10.2009 - Brazil SWF idea more a pipe dream
From Dow Jones: Despite the enormous influx of capital going into Brazil, a sovereign wealth fund in the near term is little more than a pipe dream. According to recent reports, Brazil's government is planning to set up a new sovereign wealth fund to invest dollars that the central bank buys on the spot market to limit the sharp appreciation of the local real currency against the dollar. But Brazil needs all the money it can get to pay for its budget deficit and public debt. Second, much of the capital in flows boosting the real are private and do not go into the government coffers..............Full Article (Subscription Required): Source