Saudi Arabia is well cushioned in comparison to other GCC countries with regard to sovereign wealth funds (SWFs) as it has limited exposure to euro zone debt crisis, according to analysts.
Their remarks came as regional media reported Wednesday that the SWFs are likely to suffer losses from the lingering debt crisis. The G20 summit, which begins Thursday, will be dominated by European debt problems, economists said.
“Saudi Arabia’s SWF is managed by SAMA (Saudi Arabian Monetary Agency), one of the most well-regarded central bank in the region. The most-at-risk SWFs are from the UAE, Kuwait and Qatar, who are semi-independent from the government, and have aggressively expanded their overseas portfolio in the recent past,” Khan H. Zahid, vice president & chief economist at Riyad Capital, told Arab News.
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