How Have Governments of Resource-Rich Countries Used Their Sovereign Wealth Funds During the Crisis?
Governments dependent on revenues from commodities like oil, gas, copper, bauxite, zinc and cobalt are suffering serious budget crises. While many have sought support from the international financial institutions, made drastic spending cuts, or borrowed heavily—sometimes at high interest rates—a few are blessed with large sovereign wealth funds (SWFs) or entered the crisis with low debt…
