Central banks have 'track record' to manage new African SWFs, says World Bank expert

Basel, Switzerland

Central banks have key advantages that make them the right type of institution to manage Africa's new sovereign wealth funds (SWFs), according to a presentation by a World Bank expert at a forum of the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI), which reconvened in Basel this weekend after a 10-year hiatus.

Central bank governors from the 14 member countries met to discuss 'Leveraging sovereign wealth funds as a tool for economic stabilisation'. They

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