Romanian government moves forward with sovereign wealth fund plan, despite critics
11 Mar 2019

The Romanian government is moving forward with a plan to establish a sovereign wealth fund, a revised draft bill showed on Friday, a main policy goal of the ruling Social Democrats that critics see as a potential avenue for corruption.

The fund would hold a mix of cash and equity in some of Romania’s most profitable state companies, generating income and helping finance domestic investment.

The fund was blocked by the Constitutional Court last year following a challenge by opposition politicians, concerned that its resources risked being misappropriated and its board appointment process politicised.

However, the court still gave the government the possibility of approving the fund through an emergency decree.

– By Luiza Ilie, Reuters, 8 March 2019.

Link to Reuters

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