IMF calls on top state funds to make the rules

- Central Banking staff
- 25 Jan 2008

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The International Monetary Fund has called on sovereign wealth funds in Singapore, Norway and Abu Dhabi to develop a set of benchmarks for transparency.

Lee Kuan Yew, the head of the Government of Singapore Investment Corp, told the newspaper Straits Times that the Fund, along with Norway's Global Pension Fund and the Abu Dhabi Investment Authority - the world's biggest sovereign wealth fund, to come up with the guidelines.

"We've made some plans. They're considering it," Lee said. "Whether

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