MAS warns of slowdown while gifting $33b to GIC

Singapore’s central bank governor has just warned that the world could be set to experience of the worst economic periods since 2008’s global financial crisis.  The city state’s central bank is responding in part by handing over S$45 billion ($33.2 billion) of its foreign reserves to Singapore's sovereign wealth fund GIC.  The shift in assets would be “for investment on a longer-term basis with expected higher returns,” said Ravi Menon, the managing director of the Monetary Auth…