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Revenue Equalization Reserve Fund
The Revenue Equalization Reserve Fund (RERF) is the sovereign wealth fund of the Pacific island republic of Kiribati. The RERF was created in 1956 to act as a store of wealth for the country's earnings from phosphate mining, which at one time accounted for 50% of government revenue. In 2009 the RERF was valued at A$570.5 million. The RERF assets declined from A$637 million (420 percent of GDP) in 2007 to A$570.5 million (350 percent of GDP) in 2009. As the result of the 2008 financial crisis, the RERF was exposed to failed Icelandic banks, and drawdowns were made by the government of Kiribati to finance budgetary shortfalls. In 2018, it is set to reach 1 billion of A$. In 2019, the closing market value of the RERF was A$1,153.4 million. In 2021, the closing market value was $1.352 billion and in 2024 it reached $1.523 billion. See also * Economy of Kiribati *Kiribati Kiribati, officially the Republic of Kiribati, is an island country in the Micronesia subregion of Oce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Wealth Fund
A sovereign wealth fund (SWF), or sovereign investment fund, is a state-owned investment fund that invests in real and financial assets such as stocks, Bond (finance), bonds, real estate, precious metals, or in alternative investments such as private equity funds or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign exchange reserves held by the central bank. Some sovereign wealth funds may be held by a central bank, which accumulates the funds in the course of its management of a nation's banking system; this type of fund is usually of major economic and fiscal importance. Other sovereign wealth funds are simply the state savings that are invested by various entities for investment return, and that may not have a significant role in fiscal management. The accumulated funds may have their origin in, or may represent, foreign currency deposits, gold, special drawing rights (SDRs) and International Moneta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pacific
The Pacific Ocean is the largest and deepest of Earth's five oceanic divisions. It extends from the Arctic Ocean in the north to the Southern Ocean, or, depending on the definition, to Antarctica in the south, and is bounded by the continents of Asia and Australia in the west and the Americas in the east. At in area (as defined with a southern Antarctic border), the Pacific Ocean is the largest division of the World Ocean and the hydrosphere and covers approximately 46% of Earth's water surface and about 32% of the planet's total surface area, larger than its entire land area ().Pacific Ocean . '' Britannica Concise.'' 2008: Encyclopædia Britannica, Inc. The centers of both the [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kiribati
Kiribati, officially the Republic of Kiribati, is an island country in the Micronesia subregion of Oceania in the central Pacific Ocean. Its permanent population is over 119,000 as of the 2020 census, and more than half live on Tarawa. The state comprises list of islands of Kiribati, 32 atolls and one remote raised coral atoll, raised coral island, Banaba. Its total land area is dispersed over of ocean. The islands' spread straddles the equator and the 180th meridian. The International Date Line goes around Kiribati and swings far to the east, almost reaching 150th meridian west, 150°W. This brings Kiribati's easternmost islands, the southern Line Islands south of Hawaii, into the same day as the Gilbert Islands and places them in the most advanced time zone on Earth: UTC+14:00, UTC+14. Kiribati gained its independence from the United Kingdom, becoming a sovereign state in 1979. The capital, South Tarawa, now the most populated area, consists of a number of islets, connect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Phosphate
Phosphates are the naturally occurring form of the element phosphorus. In chemistry, a phosphate is an anion, salt, functional group or ester derived from a phosphoric acid. It most commonly means orthophosphate, a derivative of orthophosphoric acid, phosphoric acid . The phosphate or orthophosphate ion is derived from phosphoric acid by the removal of three protons . Removal of one proton gives the dihydrogen phosphate ion while removal of two protons gives the hydrogen phosphate ion . These names are also used for salts of those anions, such as ammonium dihydrogen phosphate and trisodium phosphate. File:3-phosphoric-acid-3D-balls.png, Phosphoricacid File:2-dihydrogenphosphate-3D-balls.png, Dihydrogenphosphate File:1-hydrogenphosphate-3D-balls.png, Hydrogenphosphate File:0-phosphate-3D-balls.png, Phosphate or orthophosphate In organic chemistry, phosphate or orthophosphate is an organophosphate, an ester of orthophosphoric acid of the form where one ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Dollar
The Australian dollar (currency sign, sign: $; ISO 4217, code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar, dollar-denominated currencies; and also referred to as the dollar or Aussie dollar) is the official currency and Legal tender#Australia, legal tender of Australia, including States and territories of Australia, all of its external territories, and three independent sovereign Pacific Islands, Pacific Island states: Kiribati, Nauru, and Tuvalu. * ThMoney Trackersite allows users to track Australian banknotes as they circulate around Australia. Images of historic and modern Australian bank notes* [https://www.rba.gov.au/statistics/historical-data.html?v=2022-09-25-02-11-35#exchange-rates Reserve Bank of Australia – historical data of AUD since 1969 (various .xls files)] The banknotes of Australia {{Authority control 1966 establishments in Australia Articles containing video clips Circulating currencies Currencies int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Radio New Zealand
Radio New Zealand (), commonly known as RNZ or Radio NZ, is a New Zealand public service broadcaster and Crown entity. Established under the Radio New Zealand Act 1995, it operates news and current affairs station, RNZ National, and a classical music and jazz station, RNZ Concert, with full government funding from NZ On Air. Since 2014, the organisation's focus has been to transform from a radio broadcaster to a multimedia outlet, increasing its production of digital content in audio, video, and written forms, utilising rnz.co.nz and the RNZ app. The organisation plays a central role in New Zealand public broadcasting. The New Zealand Parliament fully funds its AM network, used in part for the broadcast of parliamentary proceedings. RNZ has a statutory role under the Civil Defence Emergency Management Act 2002 to act as a "lifeline utility" in emergencies. It is also responsible for an international service, RNZ Pacific, which broadcasts to the South Pacific in both ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Kiribati
The Republic of Kiribati's per capita Gross National Product of US$1,420 (2010) makes it the poorest country in Oceania. Phosphates had been profitably exported from Banaba Island since the turn of the 20th century, but the deposits were exhausted in 1979. The economy now depends on foreign assistance and revenue from fishing licenses to finance its imports and development budget. The Asian Development Bank’s assessment of Kiribati’s growth potential point identifies constraints imposed by “(i) land area, (ii) geographic dispersion across 5,000 km of ocean, (ii) remoteness from major markets with associated high external transport costs, (iii) high vulnerability to natural forces including climate change and sea level rise, and (iv) scarce natural resources.” Government revenue The expiration of phosphate deposits in 1979 had a devastating impact on the economy. Receipts from phosphates had accounted for roughly 80% of export earnings and 50% of government revenue. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Wealth Funds
A sovereign wealth fund (SWF), or sovereign investment fund, is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity funds or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign exchange reserves held by the central bank. Some sovereign wealth funds may be held by a central bank, which accumulates the funds in the course of its management of a nation's banking system; this type of fund is usually of major economic and fiscal importance. Other sovereign wealth funds are simply the state savings that are invested by various entities for investment return, and that may not have a significant role in fiscal management. The accumulated funds may have their origin in, or may represent, foreign currency deposits, gold, special drawing rights (SDRs) and International Monetary Fund ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
