Committee of Supply 2021 debate, Day 1: Leon Perera on reserves drawdowns and performance of sovereign wealth funds

What is the operating principle that determines how a draw on the reserves is financed and executed? That question was put forward by MP Leon Perera in Parliament on Friday (Feb 26). He gave the example that if a drawdown was financed by borrowing against the collateral of the reserves, it might prove more advantageous especially if interest rates are lower in a global economic crisis. Mr Perera also asked how the Ministry of Finance assesses that the sovereign wealth funds' boards and management have done a reasonable job in terms of returns.