| The best thing the Kurdistan Regional Government can do ahead of the oil boom is to establish a fully-transparent sovereign wealth fund. The region’s oil should be a resource for generations, not an asset to be spent on jewelry, luxury cars, and ostentatious homes for the elite and politically-connected few.
Norway and Kuwait established the first sovereign wealth funds more than a half century ago in order to channel oil income into investment funds which not only would amplify revenue, but would also ensure the resources would protect the governments against declines in oil prices and the day when oil ran out...............................................Full Article: Source
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