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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    "Enormous" money Iraq's treasury and the continuous increase in cash reserves.. How can this be inve

    Rocky
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    cash - "Enormous" money Iraq's treasury and the continuous increase in cash reserves.. How can this be inve Empty "Enormous" money Iraq's treasury and the continuous increase in cash reserves.. How can this be inve

    Post by Rocky Wed 14 Dec 2022, 6:18 am

    [rtl]"Enormous" money Iraq's treasury and the continuous increase in cash reserves.. How can this be invested?[/rtl]

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    [rtl]Commenting on the high levels of cash reserves, Al-Halfi suggested, “Establishing a special fund for surplus hard currency represented by (an investment fund for generations) with supervision and follow-up by a committee characterized by integrity and patriotism, which invests these Funds in building service projects, or tourism, or agricultural reclamation in order to increase the local product and export the surplus.


    The economist added, in an interview with Alsumaria News, that “the establishment of the Generations Fund is very important during the next stage as a result of the increase in the number of the population with the increase in its crises and needs,” stressing that “The fund will give fruitful results after the next 10 years, and then we will move towards a free and expanded economy without relying on the economy.” rentier.”
    He continued, "Some countries develop their investment funds within 15 or 20 years," noting that "the rise in Iraqi cash reserves is a golden opportunity to restore the investment wheel to Iraq."
    Earlier, the Central Bank announced that the volume of currency reserves had reached its highest levels in Iraq's history, while noting that public finances have an opportunity to compensate all the disadvantaged and those with low salaries from retirees.
    The Central Bank's advisor, Ihsan Shamran Al-Yasiri, said: “The central bank's reserves have reached their highest levels in the history of the Iraqi state and have exceeded $90 billion,” explaining that “what we are counting on is not the central bank's reserves, but rather the performance of public finances that are now enjoying a very sufficient abundance of funds.”
    Al-Yasiri continued, "The central bank's work is to manage monetary policy and intervene to fix problems related to the exchange rate and others," noting that "the bank's reserves are still abundant and our procedures are rational."
    And he stressed the need for “public finances to be disciplined and direct public spending to real priorities rather than scattering them,” stressing that “public finances have an opportunity to compensate all those lost during the previous years of fragile classes, social benefits and low -paid retirees, as these classes need subsidies.
    Iraq continues to increase its holdings of US bonds at a time when it is witnessing huge numbers of oil revenues as a result of the rise in oil prices, as not a month passes without Iraq buying US bonds, at a value of approximately $1.6 billion per month.
    The US Treasury said in its latest table, "Iraq rose two ranks to rank 32 among the countries with the largest holders of US treasury bonds of 38 countries listed in the table for countries with possessions of more than 32 billion dollars."
    She added, "Iraq's possession of these bonds amounted to $36.9 billion for the month of September, an increase of 3.65% over August of 2022, and an increase of 105% over the same month of last year 2021."
    She pointed out that “Iraq was the fourth largest Arab country after Saudi Arabia, Kuwait and the UAE, while Japan came at the top of the countries with the largest possession of these bonds, followed by China second and the United Kingdom third,” noting. that “the total bonds of the countries of the world amounted to 7 trillion and 296 billion dollars.”

    And Iraq buys these bonds as a result of achieving a monthly financial surplus with a comparison between its expenses and revenues. Speaking of the financial surplus achieved in the current year 2022, Iraq's possession of US bonds in the last month of last year, December, amounted to $22.5 billion.
    During the 9 months of this year until September, Iraq's possession of US bonds amounted to $36.9 billion, which means that Iraq bought during the first nine months of this year $14.4 billion in US bonds.
    And while Iraq bought US bonds with about half of the financial surplus it achieved, the other half is divided between buying gold, which since the beginning of this year amounted to about 34 tons of gold that Iraq bought during this year so far, bringing its Reserves to more than 130 tons after it did not exceed 96 tons at the beginning of this year.
    The average price of a ton of gold globally during the current year is approximately $50 million, which means that Iraq bought gold at $1.7 billion, in addition to bonds at $14.4 billion, meaning that it bought bonds and gold at more than $16 billion, and With this, it has converted more than From 50% of its financial surplus achieved so far into gold and US bonds.


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