International Working Group of Sovereign Wealth Funds to Meet in Kuwait City on April 5-6, 2009
March, 25 2009
The International Working Group of Sovereign Wealth Funds (IWG) will convene its fourth meeting in Kuwait City on April 5-6, 2009, hosted by the Kuwait Investment Authority and the State of Kuwait.
The meeting, a work session of all 23 members of the IWG, will review developments in the global economy and the progress of the Formation Committee, which was set-up to explore the creation of a Standing Group for SWFs (see Press Release No. 08/06). The group plans to issue a brief communiqué and hold a press conference at the conclusion of the Kuwait City meeting.
For additional information see: http://www.iwg-swf.org/index.htm
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The Santiago Principles, developed by the IWG, aim to promote a clearer understanding of the institutional framework, governance, and investment operations of SWFs that would support the maintenance of an open and stable investment climate. They are a common set of voluntary principles and practices to help maintain the free flow of cross-border investment and open and stable financial systems.
The IWG member countries are: Australia, Azerbaijan, Bahrain, Botswana, Canada, Chile, China, Equatorial Guinea, Iran, Ireland, South Korea, Kuwait, Libya, Mexico, New Zealand, Norway, Qatar, Russia, Singapore, Timor-Leste, Trinidad & Tobago, the United Arab Emirates, and the United States.