Sovereign wealth fund could help Macao overcome gambling dependency, IMF says


The Macao authorities are "willing to contemplate" establishing a sovereign wealth fund (SWF) according to the International Monetary Fund (IMF), as they chase a higher return on their reserves.

Macao overtook Las Vegas as the largest gaming centre in the world in 2005, and started rapidly accumulating foreign exchange reserves as a result. A decade-long gaming boom pushed reserves to $30 billion in January 2014 – nearly 60% of GDP - and, according to the IMF, the authorities are now considering

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