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Guatemala mulls sovereign fund for public works

Thursday, July 5, 2012

Windfall earnings from Chile's copper, the Panama Canal and the oil of the Arab countries are salted away in sovereign funds that are used to invest in major public works projects, though sometimes also to purchase US bonds or even European soccer clubs.

But in Guatemala, President Otto Pérez aims to create a fund that will used to pay for infrastructure projects with the earnings of state companies, as well as mining and oil firms.

"The idea is good but it will have be discussed fully," said Ricardo Barrientos, former deputy finance minister.

Source (in Spanish): El Periódico