Russian Stabilization Fund now split into Reserve, Welfare funds
Posted by Editor on January 31, 2008 at 09:07 AM
Interfax reports that, “Russia’s Stabilization Fund of 3.85 trillion rubles ($157.38 billion) as of January 30, 2008, ceased to exist after it was divided into two parts on Wednesday, January 30.”
The reports states that the new Reserve Fund holds an initial 3.069 trillion rubles ($125.4 billion) and the new National Welfare Fund an initial 783 billion rubles ($32 billion).
The National Welfare Fund will play the role of a sovereign wealth fund.
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