The Economic and Social Stabilization Fund (Fondo de Estabilizacion Economica y Social, ESSF) is a Chilean state-owned sovereign wealth fund created in 2007 through the merger of the former Copper Stabilization Fund with stabilization resources dating to a 1981 decree law. It exists to stabilize the finances of Chile's central government against abrupt swings in the economic cycle and extraordinary events, operating under the country's Fiscal Responsibility Law, and is also used each year to help amortize public debt and to contribute to Chile's separate Pension Reserve Fund.
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Institution Subtype Founding Year Sources
1. Economic and Social Stabilization Fund, Wikipedia
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It was created in 2007 by the merger of the former Copper Stabilization Fund (Spanish: Fondo de Compensación para los ingresos del Cobre) and of the stabilization resources created by Decreto Ley N° 3.653 of 1981.
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