Sovereign funds seek to raise debt and equity as pandemic strains state budgets

[admin]

Sovereign wealth funds are seeking to raise funding via debt and equity markets as the coronavirus crisis and low commodity prices stretch state finances. Many SWFs have traditionally relied on cash funnelled from their governments to support the bulk of their finances, but recent moves could indicate a shift. Investment Corporation of Dubai this month sold $600 million in bonds, for example, while Turkey's sovereign investment fund was also planning a bond issue, but postponed the move due to market volatility.