Nigeria has $2.5 billion in Sovereign Wealth Fund, $33 billion in foreign reserves as of July 2021 and $88 billion in debt as of March 2021.
A significant contrast to what fellow oil producers, Kuwait reportedly have in their $700 billion ‘Life-After-Oil” fund. It is interesting to know that this fund is separate from the $41.7 billion dollars in their foreign reserves as of March 2021.
According to Bloomberg, Kuwait is making moves to invest its way out of dependency on oil money. It is called the Future Generations Fund, a national savings pot designed to help the country prepare for life after oil. The Future Generations Fund cannot be touched without approval from parliament.
World’s oldest wealth fund swells to record and cracks the top 3
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The Future Generations Fund, managed by Kuwait Investment Authority, has risen to a record of about $700bn
July 4, 2021
Kuwait Investment Authority likely broke into the world’s top three sovereign wealth funds by assets.
The Future Generations Fund, managed by the authority known as KIA, has risen to a record of about $700bn, according to a person with knowledge of the matter. Its assets were valued at around $670bn at the close of the last fiscal year on March 31, the person said, asking not to be named discussing confidential information.
Kuwaitâs Life-After-Oil Fund Swells to a Record $700 Billion
Jul 02 2021, 7:54 PM
July 02 2021, 5:57 PM
July 02 2021, 7:54 PM
(Bloomberg) Kuwait is making strides in an effort to invest its way out of dependency on oil money.
(Bloomberg) Kuwait is making strides in an effort to invest its way out of dependency on oil money.
The Future Generations Fund, a national savings pot designed to help the country prepare for life after oil, has risen to about $700 billion, according to a person with knowledge of the matter. Its assets were valued at about $670 billion at the close of the last fiscal year on March 31, the person said, asking not to be named discussing confidential information.
China Daily, July 11, 2018.
Sit Tsui is an associate professor of the Rural Reconstruction Institute at Southwest University in Chongqing, China. He Zhixiong is a researcher officer at the Centre for Cultural Research and Development of Lingnan University in Hong Kong, China. Yan Xiaohui is a researcher officer at the Centre for Cultural Research and Development of Lingnan University in Hong Kong, China.
People’s Lives and Property
Confronting the triple trap of the COVID-19 pandemic, economic downturn, and ecological crisis, the Chinese leadership has reiterated that “China puts the people’s interests first nothing is more precious than people’s lives.” This kind of people-centered governance philosophy is ostensibly meant to protect the lives and health of the people, while defending people’s property under the basic system of collective ownership. Since 1949, China has struggled to maintain its national sovereignty over land resources and the financial system throug
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