Cyprus finance ministry to publish SWF framework this year

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Cyprus took a step closer to establishing a sovereign wealth fund (SWF) today, after finance minister Harris Georgiades told this year's Mediterranean Oil and Gas Conference that he would submit a framework for the institution by the end of the year.

The Cypriot authorities pledged to set up a ‘resource fund' in a memorandum of understanding (MoU) with the International Monetary Fund (IMF) last year – one of many reforms deemed necessary to "rearrange" the country's energy sector.

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