Debate Over Future Generations Fund
In November 2008, Al-Saraawi submitted a request for an expanded debate on the impact of the global financial crisis on Kuwaiti investments abroad, specifically the Future Generations Fund and the State Reserves Fund. The two funds are managed by Kuwait Investment Authority (KIA), the country's sovereign wealth fund, mostly in the United States and Europe. Its assets were estimated at close to $300 billion before the outbreak of the global crisis. Saraawi said that it is no secret that there is a direct impact from the global financial meltdown on Kuwaiti investments. He added that MPs also want to know the extent of this impact on the country's financial surpluses in the past few years. A number of top officials, including the finance minister and the governor of the Central Bank, have explicitly said that Kuwaiti foreign holdings have been impacted by the crisis but stressed that the effect has so far been "small."
Read more about this topic: Adel Al-Saraawi
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