- Semiannual Report to Congress on International Economic and Exchange Rate Policies, May 15, 2008: “Global growth remained strong in 2007, as strong growth in emerging market and developing countries more than offset moderating growth in advanced economies. A slowdown in global growth is expected in 2008, in response to ongoing financial market turbulence. Emerging market economies are likely to be less affected by the turbulence than advanced economies though not immune.”
- Appendix: Sovereign Wealth Funds: “Global cross-border assets of the official sector continue to rise at a rapid pace. Total foreign assets held by sovereigns have grown to roughly $10 trillion, including about $7 trillion in international reserves (including gold) and an estimated $2 3 trillion in sovereign wealth funds (SWFs). The IMF projects that foreign assets under the management of SWFs will reach $6 10 trillion by 2013.”
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