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How does the Financial Committee work?

Committee meetings are held regularly and constitute the primary opportunity for the Committee to discuss and analyze its recommendations to the Finance Minister. Before each session, the FC’s Technical Secretariat sends to the Committee’s Chair and Vice Chair a proposal of the main topics that will be discussed in the next meeting. The agenda is defined based on the feedback received. The Technical Secretariat is responsible for presenting each point of the agenda and third parties may be invited if a more specialized opinion is needed. The presentation and any background information is provided in advance of each meeting. The results and main positioning of the sovereign funds’ portfolios are reviewed in each session. In addition, other topics may be discussed such as possible modifications to the investment policies or implementation status of these policies. Also, the Committee meets with each of the asset managers responsible for investing the sovereign wealth funds at least once a year. Once the session is over, the President approves the press release that contains a summary of the meeting. This press release is published in the Ministry of Finance’s website.

Notwithstanding the above, Committee members remain in contact between meetings, and may exchange information and points of view by email. In addition, the Committee has invited experts and financial institutions in order for them to share their point of views and experience.

 

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