Amgine

Sources - discussion to follow:

* PMO: Prime Minister Carney announces the Canada Strong Fund – Canada’s first sovereign wealth fund - https://www.pm.gc.ca/en/news/news-releases/2026/04/27/prime-minister-carney-announces-canada-strong-fund-canadas-first
* CBC: Carney announces creation of Canada's first national sovereign wealth fund - https://www.cbc.ca/news/politics/sovereign-wealth-fund-carney-major-projects-9.7178238
* AP News: Prime Minister Mark Carney unveils $18 billion Canadian investment fund - https://apnews.com/article/carney-canada-sovereign-wealth-fund-4be2e01a820382f42dcf7af7cc4f90c1

The #PMO pr & coverage suggest it's more a bond than #SWF.

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#CdnPoli #Canada

Prime Minister Carney announces the Canada Strong Fund – Canada’s first sovereign wealth fund

At the core of this new strategy are nation-building projects – new ports, mines, and trade and energy corridors that will unlock our vast resources, secure our domestic supply chains, and enable us to sell to new markets across Canada and around the world.

Prime Minister of Canada
Apr 27 at 6:30pmWeb
Show threadAmgineApr 27

A #SovereignWealtFund is primarily built with government __revenues__ (e.g. from commodity exports) and/or __revenues__ from foreign exchange reserves.

Not built with private equity.

Not built with pension funds.

They are built with #revenues from national assets which have no pre-allocation.

This fund will apparently be built by borrowing $25 Billion, of which $18 billion will go into this.

Debt is not a previously known method for creating a SWF.

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Show threadAmgineApr 27

SWF's are not transparent, and have very high risk for corruption. As they are not accountable to regulators (e.g. not reporting size and source of funds, investment goals, internal checks and balances, disclosure of relationships, or holdings in private equity funds,) they have potential effects on other investors, such as banking, insurance and hedge funds.

SWFs have engaged in economic warfare with private and public targets..

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Show threadAmgineApr 27

The CPP Investment Board has made choices which were not in the interests of the financial health of the CPP. E.g. 37% of investments were within Canada; they are now 14%. CPP owns 50.01% of Ontario Hwy 47, a toll road.

This despite being an 'arms-length' independent #CrownCorporation.

The SWF announcement strongly suggests it will build infrastructure in #FossilFuel, #mining, #nuclear energy, & a #railroad. No other projects are mentioned specifically.

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Show threadPapyrusBrigadeApr 27
@Amgine Oh I really don't like the smell of this one. Thanks for posting the links. I was really scratching my head over the initial headline.
Show threadAmgineApr 27

@PapyrusBrigade

The English #Wikipedia article on Sovereign weath funds is a really good starting point: https://en.wikipedia.org/wiki/Sovereign_wealth_fund

As they point out in the _Concerns_ section, there has been a recent boom in SWF's which are being used, it appears, as corruption slush funds by some governments.

Sovereign wealth fund - Wikipedia

Show threadAmgineApr 27

Correction!!

I misread the AP News article. It was translating the Canadian dollars to US dollars: the reported plan is to borrow $25 Billion Canadian Dollars in the Spring update for this initiative.