3 September 2008
For Personal Use Only

• Source: Kyodo News

The International Monetary Fund said Tuesday countries managing state-backed sovereign wealth funds agreed on draft principles, which they are supposed to voluntarily respect in conducting their investment activities.

After being debated by the finance ministers and central bank chiefs of the Group of Seven industrialized nations in October, the draft accord is expected to be finalized at the IMF’s annual meeting in Washington later in the month.

Filed by Ozlem Yucel under Investment and Competition Policy