27.05.2009 - The vital role of Sovereign Wealth Funds in the GCC's future
From Zawya.com: The nations comprising the Gulf Cooperation Council (GCC) have generated large amounts of foreign exchange reserves over the decades, mainly from the production and sale of oil. Since oil prices have been volatile since the early 1970's, the GCC countries have historically used the money as a buffer against changes in commodity prices, to balance their budgets, to maintain economic stability and to create intergenerational savings.......Full Article: Source