Angola is Gearing Up

Ashby Monk

Ten: The number of new SWFs that countries have set up or are planning to set up in (or around) 2009. Following on from these eight and Mongolia, Angola is now gearing up to have its own SWF very soon:

“Angola’s government sees the $58 per barrel reference oil price in the 2010 budget as very prudent as prices should trade much higher next year, and will use the extra money for a wealth fund.”

Reuters had reported in June that Angola was considering a new SWF this year, but I had seen precious little since then. I guess the recent uptick in the price of oil has bolstered the third largest oil producer in Africa to press ahead with their new SWF.

 

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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