01773cas a2200253 a 4500 AALejournalIMF009733 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451868609 1018-5941 BD-DhAAL BD-DhAAL Medas, Paulo. Sovereign Wealth Funds in the Pacific Island Countries : Macro-Fiscal Linkages / Paulo Medas, Eric Le Borgne. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (29 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper looks at the role Sovereign Wealth Funds have played in the Pacific Island Countries in achieving key macro-fiscal policy objectives, namely, protecting the budget from high revenue volatility and strengthening fiscal prospects. Evidence shows that the funds' effectiveness has been hampered by lack of integration with the budget, institutional weaknesses, and inadequate controls. These factors, together with weak asset management, have sometimes led to substantial financial losses and undermined fiscal policy. Funds, if well designed, could be used as a tool to support a sound fiscal framework, but should not be seen as a substitute for fiscal reforms. Mode of access: Internet Le Borgne, Eric. IMF Working Papers; Working Paper ; No. 2007/297 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/297/001.2007.issue-297-en.xml IMF e-Library