International Development - IMF, World Bank & IFI Round-Up

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The head of China's sovereign wealth fund told an international conference that China will consider shifting its investment portfolio towards developing economies while opportunities in the developed countries remain uncertain. "‘We will divert more of our investments into developing countries," Lou Jiwei, chairman of China Investment Corp. that holds a USD 200 billion fund, told hundreds of participants at the Clinton Global Initiative conference in Hong Kong. Lou said China's fund would help soften the bite of the ongoing global crisis by continuing to invest in wealthy countries as well as in developing nations.

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