Which country has a sovereign wealth fund that was established in 1953? A) Singapore B) Saudi Arabia C) Kuwait D) UAE
Understand the Problem
The question is asking to identify which country established a sovereign wealth fund in 1953 from the provided options.
Answer
Kuwait
The final answer is Kuwait.
Answer for screen readers
The final answer is Kuwait.
More Information
The Kuwait Investment Authority, established in 1953, is the oldest sovereign wealth fund in the world. It was created to manage the excess oil revenues before Kuwait gained independence from the United Kingdom.
Tips
It's important to focus on the date of establishment when identifying the correct sovereign wealth fund.
Sources
- Sovereign Wealth Funds: An Introduction - Investopedia - investopedia.com
- List of countries by sovereign wealth funds - Wikipedia - en.wikipedia.org
- Kuwait Investment Authority - kia.gov.kw
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