US Deputy Treasury Secretary Robert Kimmitt called on Gulf Arab countries to continue investing in the US to help restore financial stability.
US Deputy Treasury Secretary Robert Kimmitt called on Gulf Arab countries to continue investing in the US to help restore financial stability.
“What we're really doing is simply to make clear to sovereign wealth funds of the world that we are open to investments that are commercial ... that do not raise security concerns,” he told reporters after a speech.
“We’re looking for sovereign wealth funds to continue their over five-decade track record of investing on sound commercial bases,” Kimmitt said during a visit to the United Arab Emirates, his second stop on a five-nation tour of Gulf countries and Iraq.
Commenting on the financial crises he said that the “opaqueness in our capital markets and inadequate risk management and supervision by financial sector participants contributed to the crisis”, and underlined the need for reform of the financial regulatory structure.
Full speech
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