September 21, 2018 / 2:47 PM / 3 months ago

Iceland intends to establish a sovereign wealth fund

COPENHAGEN, Sept 21 (Reuters) - Iceland intends to establish a sovereign wealth fund to serve as a “disaster relief reserve” when the treasury suffers from severe, unforeseen shocks to the national economy, the government announced on Friday.

“The state’s contributions to the Fund will be equivalent to new revenues from publicly owned power production companies which are expected to accrue in the coming years,” the government said in a statement. (Reporting by Teis Jensen; editing by Emelia Sithole-Matarise)

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