Macroeconomic Stabilization Fund - FEM
A reserve fund established by the country of Venezuela. Also known as the "FEM," it was created at the behest of the IMF to stabilize the national cash flow generated from oil production. It receives all monies generated from oil production above a certain price per barrel and pays out the difference if the price falls below this level.
The price per barrel above which revenue is diverted into the fund is based on the average price of oil over the past five years. Oil price fluctuations are hedged with future contracts on an as needed basis.
The fund is governed by the Board of the Central Bank of Venezuela.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
Stabilization fund — A stabilization fund generally refers to a mechanism set up by a government or central bank to insulate the domestic economy from large influxes of revenue, as from commodities such as oil. A primary motivation is maintaining a steady level of… … Wikipedia
Emergency Economic Stabilization Act of 2008 — This article is about one division of an enacted statute. For the entire statute, see Public Law 110 343. For the enacted rescue program, see Troubled Asset Relief Program. The Emergency Economic Stabilization Act of 2008 (Division A of Pub.L.… … Wikipedia
International Monetary Fund — an international organization that promotes the stabilization of the world s currencies and maintains a monetary pool from which member nations can draw in order to correct a deficit in their balance of payments: a specialized agency of the… … Universalium
Sovereign wealth fund — A sovereign wealth fund (SWF) is a state owned investment fund composed of financial assets such as stocks, bonds, property, precious metals or other financial instruments. Sovereign wealth funds have gained world wide exposure by investing in… … Wikipedia
Economy of Venezuela — Infobox Economy country = Venezuela currency = Bolívar fuerte (VEF) year = calendar organs = WTO, OPEC, Unasur, MERCOSUR , ALBA rank = 31st gdp = $334.600 billion (2007 est.) growth = 8.3% (2007 est.) per capita = $12,800 (2007 est.) sectors =… … Wikipedia
Economy of Russia — Russia is a unique emerging market, in the sense that being the nucleus of a former superpower shows more anomalies. On one hand, its exports are primarily resource based, and on the other, it has a pool of technical talent in aerospace, nuclear… … Wikipedia
Economic history of the Russian Federation — Contents 1 Historical background 2 Transition to Market Economy 2.1 Monetary and fiscal policies 2.2 Inflation … Wikipedia
Russia — /rush euh/, n. 1. Also called Russian Empire. Russian, Rossiya. a former empire in E Europe and N and W Asia: overthrown by the Russian Revolution 1917. Cap.: St. Petersburg (1703 1917). 2. See Union of Soviet Socialist Republics. 3. See Russian… … Universalium
American Recovery and Reinvestment Act of 2009 — Stimulus bill redirects here. For other uses, see Stimulus bill (disambiguation). ARRA redirects here. For other uses, see ARRA (disambiguation). American Recovery and Reinvestment Act of 2009 Full title An act making supplemental appropriations… … Wikipedia
New Keynesian economics — Not to be confused with Neo Keynesian economics. Economics … Wikipedia
History of post-Soviet Russia — With the dissolution of the Soviet Union in December 1991, the Russian Federation became an independent country. Russia was the largest of the fifteen republics that made up the Soviet Union, accounting for over 60% of the GDP and over half of… … Wikipedia