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Saleh: sovereign funds maintain revenue

wciappetta
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Saleh - Saleh: sovereign funds maintain revenue Empty Saleh: sovereign funds maintain revenue

Post by wciappetta on Thu 06 Nov 2014, 5:43 am

Saleh: sovereign funds maintain revenue

   

6/11/2014 0:00 

BAGHDAD joy pumice  to avoid the effects of lower global oil prices, economic and terrorist crises facing the country, calling for an economist government to elaborate a plan ten years ahead and the establishment of a real sovereign wealth funds, in order to maintain their financial assets the longer term. The Development Fund for Iraq (DFI) one species sovereign and classified funds within 19 Arabs fund in the world, according to the Institute of sovereign funds, which was founded in May 2003, along with the Iraqi Central Bank reserves of foreign currency and precious metals estimated at $ 76 billion (and invest in sovereign securities in industrialized countries and classification (AAA ) is called (Triple A)). 

He spoke of the "morning" in this regard expert Dr. appearance of Mohammed Saleh, saying that the sovereign funds are prudent and prefer to return on liquidity, so they are a variety of currencies and instruments, and avoid liquidity risks and market fluctuations and risks of exchange rates and interest rates, as well as the risks Legal. And Saleh stressed the importance of putting some of the oil revenues, real and financial investments inside and outside Iraq, where the surpluses to invest financially and diversity of Mali to feed them in the days of the crisis, as in the present time in the low global oil prices and the accompanying failure to approve the budget of 2014, which is nearing completion leaving the real deficit of more than $ 30 billion, without obtain tangible results of development in Iraq. 

The decreased crude prices globally recently to settle at around $ 80 per barrel, while prepared the budget year 2014, according to the price of $ 90 a barrel, leading to a deficit in. He called expert to develop plans aimed at the establishment of this type of fund as a fund development of Iraq (DFI) and reserves and pension fund stainless because a sovereign fund, its overriding goal of maintaining reserves of deterioration and legal risks, pointing to the importance of diversification in foreign currencies within the cash reserve, to be offset by the diversification in bonds.


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