The Nauru Phosphate Royalties Trust (NPRT) was a sovereign wealth fund developed by the government of the Republic of Nauru in which the government invested money from the state owned mining company, Nauru Phosphate Corporation. This money was then re-invested in a real estate portfolio, among other things, to provide the government with a reliable national income following the depletion of minable phosphates on the island. Although at one time successful, mismanagement and corruption later essentially bankrupted the fund, thus virtually bankrupting the entire Republic.
Other articles related to "nauru phosphate royalties trust, phosphate, nauru, trust":
... Phosphate mining in Nauru Economy of Nauru Nauru Phosphate Corporation Republic of Nauru Tuvalu Trust Fund ...
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“He who wants to persuade should put his trust not in the right argument, but in the right word. The power of sound has always been greater than the power of sense.”
—Joseph Conrad (18571924)