Commodity-based Sovereign Wealth Funds: Managing Financial Flows in the Context of the Sovereign Balance Sheet
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Summary:
Commodity-based sovereign wealth funds (SWFs) have been at a crossroads following the recent fall in commodity prices. This paper provides a framework for commodity-based SWF management, focusing on stabilization and savings funds, by (i) examining macrofiscal linkages for SWFs; (ii) presenting an integrated sovereign asset and liability management (SALM) approach to SWF management; and (iii) applying this framework to a scenario where assets are being accumulated and to a scenario where the SWF is drawn on to cover a financing gap due to lower commodity prices.
Series:
Working Paper No. 2018/026
Subject:
Budget planning and preparation Financial statements Fiscal policy Government asset and liability management Government debt management Public debt Public financial management (PFM)
English
Publication Date:
February 9, 2018
ISBN/ISSN:
9781484340967/1018-5941
Stock No:
WPIEA2018026
Pages:
35
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