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SUBJECT:
Sovereign wealth funds and the 'resource curse'.
SIGNIFICANCE:
In Africa, resource wealth regularly leads to economic, political and social turmoil. As such, there has been a push to find mechanisms to overcome this 'resource curse' and prevent windfall revenues from being squandered. If structured properly, sovereign wealth funds have the potential to function as one such mechanism.
Word Count (approx): 1315
Headings
- Commodity funds
- Stabilisation
- Sterilisation
- Savings
- Good governance
- Role models
- Santomean structure
- Best practices
Primary Keywords: AF, Africa, International, Sao Tome, economy, fiscal, gas, mining, natural resources, oil, policy, prices
Secondary Keywords: Chad, Nigeria, Norway, politics, corruption, exchange rate, foreign trade, government, legislation
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