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Covid-19 crisis: Biggest wealth fund faces record $37-bn withdrawal

The unprecedented withdrawal, revealed in Norway's Revised Budget for 2020, is more than four times the previous record set in 2016

Mutual funds, Stock markets, liquidity
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The development exposes the scale of the economic damage done by the twin crises of Covid-19 and a collapse in global oil markets

Bloomberg
Norway plans to draw a record 382 billion kroner ($37 billion) from its wealth fund, forcing the world’s biggest sovereign investor to embark on a historic asset sale to generate cash.

The unprecedented withdrawal, revealed in Norway’s Revised Budget for 2020, is more than four times the previous record set in 2016. 
The development exposes the scale of the economic damage done by the twin crises of Covid-19 and a collapse in global oil markets, with western Europe’s biggest crude exporter now facing its