Brazil's Lula orders creation of sovereign fund
Posted by Editor on May 23, 2008 at 05:49 PM
Thomson Reuters reports that, “Brazil’s President Luiz Inacio Lula da Silva has ordered the creation of a sovereign wealth fund, but the government is still working out details, Finance Minister Guido Mantega said on Friday.”
The article quotes Mantega as saying that, “President Lula determined that we launch the sovereign fund. The bill is practically finished and there are only some legal aspects pending”
Reports earlier today suggested that da Silva had cooled on the idea of creating a Brazilian SWF.
Here is more on the subject from Bloomberg.
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