This Brazilian City Created a Sovereign Wealth Fund. Should US Cities Do the Same? - The Mexico Ledger
The city’s fund has grown to more than R$2 billion and helps finance a basic income, local projects and long-term development.
- Maricá, a city of 212,000 near Rio de Janeiro, has become Brazil's fourth-richest municipality since discovering offshore oil in 2006, operating a sovereign wealth fund that has ballooned to over $415 million.
- Through its arm's-length investment firm CODEMAR, the city launched infrastructure projects including a seaport estimated to create 13,000 jobs, while households receiving the Mumbuca local currency have seen their incomes increase by 9%.
- Researcher Leandro Ferreira of the Brazilian Forum of Sovereign Wealth Funds says the fund's mandate forces development spending, though he warns that reliance on political leadership makes such funds susceptible to strategy changes if administrations shift.
- Other regions like Ilhabela and Paraná are adopting similar models, proving these funds can span the political spectrum; however, Paul Katz of the Jain Family Institute cautions that U.S. cities lack comparable surplus oil revenues.
- Proposed national-level funds from Senator Bernie Sanders and President Donald Trump demonstrate growing global interest, though Ferreira warns that not every city will replicate Maricá's unique oil-funded trajectory.
17 Articles
17 Articles
This Brazilian city created a sovereign wealth fund. Should US cities do the same? - The Mexico Ledger
This Brazilian city created a sovereign wealth fund. Should US cities do the same?Across North America, sovereign wealth funds appear to be the social policy du jour.Sen. Bernie Sanders recently proposed a sovereign wealth fund that would tax shares of AI companies to give an annual cash dividend to Americans, and has introduced legislation to that effect. On the other end of the political spectrum, President Donald Trump signed an executive ord…
This Brazilian city created a sovereign wealth fund. Should US cities do the same? - Seward Independent
This Brazilian city created a sovereign wealth fund. Should US cities do the same?Across North America, sovereign wealth funds appear to be the social policy du jour.Sen. Bernie Sanders recently proposed a sovereign wealth fund that would tax shares of AI companies to give an annual cash dividend to Americans, and has introduced legislation to that effect. On the other end of the political spectrum, President Donald Trump signed an executive ord…
thepampanews.com
This Brazilian city created a sovereign wealth fund. Should US cities do the same?
Next City reports that Maricá, Brazil, has launched a sovereign wealth fund, inspiring discussions about similar funds in U.S. cities, despite financial challenges.
This Brazilian city created a sovereign wealth fund. Should US cities do the same? - Stateline Publications
This Brazilian city created a sovereign wealth fund. Should US cities do the same?Across North America, sovereign wealth funds appear to be the social policy du jour.Sen. Bernie Sanders recently proposed a sovereign wealth fund that would tax shares of AI companies to give an annual cash dividend to Americans, and has introduced legislation to that effect. On the other end of the political spectrum, President Donald Trump signed an executive ord…
This Brazilian city created a sovereign wealth fund. Should US cities do the same? - Hillsboro Sentry Enterprise
This Brazilian city created a sovereign wealth fund. Should US cities do the same?Across North America, sovereign wealth funds appear to be the social policy du jour.Sen. Bernie Sanders recently proposed a sovereign wealth fund that would tax shares of AI companies to give an annual cash dividend to Americans, and has introduced legislation to that effect. On the other end of the political spectrum, President Donald Trump signed an executive ord…
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