Abstract

811. At the end of 2001, Norway’s central bank, the Norges Bank (the Bank), managed funds worth NKr 795 billion (US$88 billion) in the international capital markets. The bulk of this capital was the Government Petroleum Fund (NKr 613 billion/ $68 billion), which is managed on behalf of the Ministry of Finance, and the Bank’s international reserves (NKr 170 billion/$19 billion). Norges Bank’s international reserves comprise the foreign exchange reserves, gold reserves, and claims on the IMF. In addition, the Bank manages the Government Petroleum Insurance Fund (NKr 11 billion/$1 billion) on behalf of the Ministry of Petroleum and Energy.47