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Sovereign Wealth Funds Briefing - Categorized | Financials, Reserve Currencies

Govt withdraws $2.5b from ‘Heritage’ Fund

Posted on 06 June 2016

On the heels of an announcement that it will meet outstanding back-pay to public servants, Government has quietly withdrawn $2.5 billion (about US$385 million) from the Heritage and Stabilisation Fund (HSF).
It is the first time that there’s been a drawdown on the country’s sovereign wealth fund, which was established in 2007, and is often referred to as its rainy-day savings………………………………………..Full Article: Source


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