Public Investment Fund

IMF Backs Saudi Economic Plan for “Appropriately Bold” Transformation

By Andrew Torchia DUBAI, May 19  – The International Monetary Fund backed Saudi Arabia’s sweeping economic reform plan on Thursday and said the kingdom was cutting spending at the right speed to cope with a huge state budget deficit caused by low oil prices. Late last month, Deputy Crown Prince Mohammed bin Salman announced steps

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Domestic Focus May Limit Clout of $2 Trillion Saudi Fund

By Andrew Torchia DUBAI, May 17 – Saudi Arabia aims to create the world’s biggest sovereign wealth fund, a $2 trillion behemoth that can throw its weight around global markets, but the fund’s growth abroad is likely to be slowed by its responsibility for aiding the economy at home. Building the Public Investment Fund (PIF)

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Saudi to Transfer Riyadh Finance District Project to PIF

By David French and Katie Paul DUBAI/RIYADH, May 10 – Saudi Arabia is to transfer ownership of Riyadh’s floundering King Abdullah Financial District to the Public Investment Fund (PIF) from the Public Pension Agency (PPA), according to four sources aware of the matter. The move is an attempt to rescue the project, started a decade

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