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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

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    The Sudanese financial advisor reveals the amount of gold accumulated by families and the gold flowi

    Rocky
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    The Sudanese financial advisor reveals the amount of gold accumulated by families and the gold flowi Empty The Sudanese financial advisor reveals the amount of gold accumulated by families and the gold flowi

    Post by Rocky Wed 31 May 2023, 8:01 am

    [size=30]The Sudanese financial advisor reveals the amount of gold accumulated by families and the gold flowing into Iraq[/size]

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    PM:12:47:31/05/2023

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    Today, Wednesday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that monetary gold is managed within the country's sovereign investment portfolio, revealing the volume of gold accumulated by the public and the gold flowing into Iraq.


    Saleh said, in a press statement, followed by NRT Arabia: “The Iraqi families lost (their mufflers) and their various assets and assets of preoccupied gold during the period of the economic blockade that struck the country throughout the nineteenth decade during the last century , and the subsequent few years, as gold was used at that time and heavily under the weight of the hardships of economic life, to exchange it for means of subsistence and to defend human existence.


    He added, "Most of the occupied gold leaked out of the country during the era of the former regime, as a means of exchange for basic and necessary needs, in addition to the loss of the country's official reserves of foreign monetary gold and currencies due to the international blockade decisions at the time.”


    Saleh pointed out that "the development of the positive economic conditions in the country after 2003, and the flow of oil revenues and other resources over the last twenty years, led to a change in the equations of gold wealth and the demand for it on a large scale again," stressing that "the monetary authority reserves today what More than 132 tons of monetary gold.


    He explained, "Keeping monetary gold is an important possession that represents an aspect of monetary policy measures and its optimal management of the investment portfolio from the country's foreign reserves."


    Saleh added, "International guiding evidence and regulations, especially those approved by multilateral international financial institutions, indicate that monetary gold reserves are between 7-10 percent of total foreign reserves, and monetary gold is managed within the sovereign investment portfolio," noting that " This percentage It comes because it is devoid of returns compared to foreign currencies and investment in international financial instruments.


    Regarding the flow of gold and gold worked into the country, he said, “The initial estimates indicate that there is an average annual flow of gold and gold worked into the country, especially of the desirable high-caliber, at least 50 tons per year. .”


    And Saleh continued by saying: “What means the existence of a wealth of gold stored by families or the public with the accumulated historical gold that can be estimated between 1200-1500 tons of gold and perhaps more, which is equivalent to at least ten times the official monetary gold.”


    He pointed out, "The market value of one ton of gold (of 24 karat) today in the global gold markets exceeds $6 million."



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