Today’s column continues the presentation of lessons Guyana can learn from global experiences with oil and gas-based SWFs. Two further lessons (4 and 5) are added to the three which were presented last week. Lessons 4 and 5 focus respectively, on national objectives and design rules.
Lesson 4 (Schedule 4)
Schedule 4 lists seven national objectives commonly found among reputationally ‘well run’ SWFs. These objectives are immensely worthy of consideration for Guyana. One of these is targeting smoothing expenditures made necessary because of volatile, variable, and highly uncertain export revenue flows.