Peterson Institute publications
The Peterson Institute for International Economics is a private, nonprofit, nonpartisan
research institution devoted to the study of international economic policy. More › ›
RSS News Feed Search

Policy Brief 13-31

Implementation of the Santiago Principles for Sovereign Wealth Funds: A Progress Report

by Edwin M. Truman, Peterson Institute for International Economics

December 2013

View full document [pdf]

In October 2013, the International Forum of Sovereign Wealth Funds (IFSWF) released its second evaluation of progress by sovereign wealth funds (SWFs) in implementing the Santiago Principles of transparency and accountability. The report, Truman says, exaggerates the extent of implementation of the principles by SWFs associated with the IFSWF. It states that all of the funds participating in the survey have implemented each of the Santiago Principles at least partially, which is contrary to research conducted by Truman. A number of the SWFs associated with the IFSWF register very low on his SWF scoreboard and have shown little improvement. The 2013 IFSWF report does not provide the impetus necessary to promote more extensive adherence to and implementation of the principles by members and nonmembers of the IFSWF, which should be the goal of the forum.


Book: Sovereign Wealth Funds: Threat or Salvation? September 2010

Policy Brief 13-19: Progress on Sovereign Wealth Fund Transparency and Accountability: An Updated SWF Scoreboard August 2013

Policy Brief 11-14: IFSWF Report on Compliance with the Santiago Principles: Admirable but Flawed Transparency August 2011

Working Paper 11-12: Sovereign Wealth Funds: Is Asia Different? June 2011

Peterson Perspective: Are Sovereign Wealth Funds Politically Motivated? October 15, 2010

Policy Brief 07-6: Sovereign Wealth Funds: The Need for Greater Transparency and Accountability August 2007

Op-ed: Four Myths about Sovereign Wealth Funds August 14, 2008

Policy Brief 08-3: A Blueprint for Sovereign Wealth Fund Best Practices April 2008

Peterson Perspective 1261: Best Practices for Sovereign Wealth Funds July 8, 2008

Op-ed: A Dose of Reality for the Dismal Science April 19, 2013

Op-ed: Five Myths about the Euro Crisis September 7, 2012

Policy Brief 12-18: The Coming Resolution of the European Crisis: An Update June 2012

Book: Resolving the European Debt Crisis March 2012

Policy Brief 12-20: Why a Breakup of the Euro Area Must Be Avoided: Lessons from Previous Breakups August 2012

Testimony: The Euro Area Crisis: Origin, Current Status, and European and US Responses October 27, 2011

Policy Brief 11-15: Sustainability of Greek Public Debt October 2011

Policy Brief 10-27: How Europe Can Muddle Through Its Crisis December 2010

Testimony: A New Regime for Regulating Large, Complex Financial Institutions December 7, 2011

Article: The Dollar and the Deficits: How Washington Can Prevent the Next Crisis November 2009

Policy Brief 09-13: A Solution for Europe's Banking Problem June 2009

Speech: Global Financial Surveillance and the Quest for Financial Stability June 15, 2009

Policy Brief 10-22: Not All Financial Regulation Is Global September 2010

Speech: Addressing the Current Financial Crisis October 7, 2008

Testimony: The Rise of Sovereign Wealth Funds: Impacts on US Foreign Policy and Economic Interests May 21, 2008

Paper: The Subprime and Credit Crisis April 3, 2008

Op-ed: A Proposal to Improve Regulatory Liquidity May 21, 2008

Book: Reforming the IMF for the 21st Century April 2006