Moody's says funds are cushion to offset sudden oil price fallStrong oil prices have sharply widen the fiscal surpluses in Gulf hydrocarbon producers and this boosted the assets of their government funds to an all time high of around $1.7 trillion at the end of 2012, according to Moody's investor service.
The assets controlled by sovereign wealth funds (SWFs) in the six-nation Gulf Cooperation Council (GCC) were nearly $700 billion higher than their level of around $one trillion at the end of 2007, the rating agency said.
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