Norway’s Wealth Fund Is Now Twice the Size of Its Economy
- Government wants to keep $1 trillion fund under central bank
- Proposes new monetary policy committee to free up board
Oslo.
Photographer: Kyrre Lien/BloombergThis article is for subscribers only.
Norway’s government proposed improving oversight of its sovereign wealth fund after it has swelled to more than twice the size of the economy since it was set up two decades ago.
The government proposed that a new monetary policy committee be set up within the central bank, freeing the board to focus more on supervising the fund. The government stopped short of moving the $1 trillion fund out of the central bank, which had been recommended by a commission earlier this year amid concerns over its growing complexity and size.