The IMF gave the green light for further analysis on the role of SWFs and endorsed a proposal to work with SWFs and other relevant parties to prepare a set of best practices for the state investment institutions. The set of best practices would cover issues of public governance, transparency, and accountability principles. An international Working Group of SWFs will begin technical discussions and drafting work from April onwards.
This work would be coordinated with the work of the OECD on practices for recipient countries as appropriate.
According to IMF estimations SWFs will rise from $2-3 trillion today to about $6-10 trillion within five years. At present, China, Kuwait, Norway, Russia, Saudi Arabia, Singapore, and the United Arab Emirates are among the countries that hold the world's largest SWFs.
Work agenda
Background paper on SWFs
© Graham Bishop
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