30 Little Known Facts About America

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30 Important Facts All U.S. Debt Slaves Should Know.

20, 2007, 10:17 am
Paulson: IMF Should Take Lead On Sovereign Wealth Funds
The International Monetary Fund should take the lead in developing guidelines and best practices for sovereign wealth funds, U.S. Treasury Secretary Henry Paulson said Saturday.

Paulson
The IMF is uniquely positioned to identify best practices for sovereign wealth funds, building on existing guidelines for foreign exchange management, Mr. Paulson said in the text of remarks to be delivered before the IMFs policy-steering committee, which is convening as part of the annual meeting of the IMF — and its sister organization the World Bank — in Washington this weekend.

Sovereign wealth funds, government-owned pools of capital, have attracted attention of policy-makers as the size of their assets has exploded and their activity in equity investment has grown. Developed countries, the recipients of much of the investment from sovereign wealth funds, are worried growing cross-border investment could feed protectionism. They want the funds to commit to transparency and market-based investment principles. Elizabeth Price

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