Saudi wealth fund PIF has ample liquidity: finance minister

PIF would allot via secondary offerings part of their local holdings to make sure they "recycle mature investments"

  
Saudi Minister of Finance Mohammed al-Jadaan speaks during a media conference with Saudi Arabia's central bank governor Ahmed al-Kholifey, in Riyadh, Saudi Arabia, February 23, 2020. Image used for illustrative purpose.

Saudi Minister of Finance Mohammed al-Jadaan speaks during a media conference with Saudi Arabia's central bank governor Ahmed al-Kholifey, in Riyadh, Saudi Arabia, February 23, 2020. Image used for illustrative purpose.

REUTERS/Ahmed Yosri

RIYADH: Saudi Arabia's finance minister said on Wednesday that the kingdom's sovereign wealth fund, the Public Investment Fund (PIF) has ample liquidity in the local market.

He added that the PIF would allot via secondary offerings part of their local holdings to make sure they "recycle mature investments" and invest in something else that the private sector finds difficult to invest in.

"That's not driven by need of liquidity though, they have ample liquidity," he added.

(Editing by Toby Chopra)