Chile to Transfer 1.7 Billion to SWFs
Chile is a major copper producer; number three in the world. Chile designed its two sovereign wealth funds to draw from copper price windfalls. The Government of Chile plans to transfer $1.7 billion towards the country’s sovereign wealth funds. The two funds are called the Pension Reserve Fund (PRF), created in late 2006 and the Fund for Economic and Social Stabilization Fund (FEES), created in early 2007.
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