16.09.2010 - Africa: SWFs as a way to protect national resource wealth from the government
From Thomaspmbarnett.com: African nations taking cue from Arab sovereign wealth funds. Argument: better to secretively stash the cash in a SWF that is kept distant from the bureaucrats' and politicians' corrupt hands. The continentís top oil exporters, and even some of its newcomers like Ghana, are taking advice from similarly resource-endowed countries that run state revenues through SWFs, many of them in the Middle East and Asia. Some of Africaís oil exporters, like Nigeria, have wrestled for decades on how to safeguard resource revenue at a distance from venal bureaucrats..............................................Full Article: Source
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