Treasury
Canada's Federal Government Announces First National Sovereign Wealth Fund
Canada's Prime Minister Mark Carney announced the nation's first national sovereign wealth fund, the 'Canada Strong Fund', at a press conference in Ottawa on Monday.The Liberal Party's majority federal government will endow $25 billion into the fund, one Carney says will function as a "national savings and investment account designed to grow wealth for future generations of Canadians." In remarks made during the announcement Carney noted Canada's economic relationship with the administration in the United States had changed, and "that's their right", and his government is responding to that in finding new ways of growing the domestic economy here without relying on its ties with its North American neighbour. "That is our imperative."
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