Donigi opposes Sovereign Wealth Fund

1 12 2011

In March 2010, the Department of Treasury and the Bank of Papua New Guinea established a Joint Working Group to look into Sovereign Wealth Funds (SWF) under the directive of the National Executive Council. This undertaking was made by the government to look into managing the expected windfall returns from the LNG project as well as other resource extractive industries.

Some have hailed it as a step in the right direction. However, senior lawyer and statesman, Peter Donigi has come out to the media (‘Focus’, The National  29/11/11) in opposition to this proposition. Key among his points is the fact that the establishment of a SWF has gone ahead without much public debate on the matter.

A soft copy of his statement was not available for publishing on this site so a scanned copy of his statement has been made available here instead. You can also download the PDF of the same here.

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