Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
A bill introduced in Parliament by MP Yassine Jaber envisions an independent sovereign wealth fund for the country's income from petroleum – and potentially other natural resources.According to the bill's text, the fund would be run by an eight-member board of directors appointed by the Cabinet. Crucially, the fund would manage two major accounts: savings and development. If foreign-currency debt exceeds 20 percent of GDP, a portion of the account's funds are used to pay down this debt.One of the major rules of investment is the 80-20 foreign-domestic split: At least 80 percent of the fund's capital must be invested abroad, while 20 percent can put into job-creating local investments.
Austerity grabs headlines; deeper reforms afoot in budget
Proposed hiring freeze may harm vital state organs, endanger public services
Not selling out: Lebanon rejects billions in Kushner plan
FOLLOW THIS ARTICLE