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Sovereign funds are actively contributing to sustainable development
02/12/2017 12:00 AM [rtl]The rights of future generations are reserved Baghdad / Al-Sabah The search for identifying the paths that go to the Iraqi economy to the fields represent the keys to development and supports the trends aimed at achieving economic advancement continued by economic experts and interested. The academic d. Star of Jabbar Khalil al-Bayati said: "Iraq needs to develop two types of sovereign wealth funds play a major developmental role, the first fund of stability, which derives its importance and the need to create it from the deficit suffered by the budget of Iraq since 2003, because of dependence on oil as the most important resource or source The main objective of the Fund is to bridge the deficit of the State budget, protect it from shocks, protect the economy as a whole, and stabilize the exchange rate of the national currency against fluctuations in the balance of payments arising from commodity price fluctuations, Of economic shocks and then seek to achieve sustainable development " in order to achieve justice Adding that "the other fund is the fund of the future, and this fund is very important and is fully consistent with the concept of sustainable human development, which takes into account the right of future generations with the resources of the dead," pointing out that "it is unreasonable that the country is heading To borrow from abroad and to future generations to bear part of the burden of these loans and their increasing benefits, and to prove the right of future generations in the resources of the dead, it represents the achievement of justice between generations, and goes further in its goal when it is a reason to achieve belonging to the homeland. Sovereign funds exist in many countries of the world and regional countries and have purely economic objectives that have a positive impact on all economic factors. Revenue of the weak As for the financing of the fund, he stressed that "a certain percentage of oil revenues are deducted and deposited in this fund with the possibility of investing its assets, and some may agree to be a ratio of 5 percent, whether permanently or permanently or from the increase in oil prices whenever required . "He said. Traditional sources Al Bayati continued: "The mechanism for creating these two types of sovereign wealth funds and their requirements is technical and can be proposed with the administrative structure at the time, so that the appropriate administrative description can be found later. In terms of funding, the sources of funding of these two funds can be made through Traditional sources such as surpluses of surplus resources, balance of payments surpluses, trade surpluses (commodity exports), privatization proceeds, and so on, in which case a certain fixed rate is deducted or deducted when excess surpluses are increased. Investment Deposits The withdrawal of these funds between "it takes several forms, including withdrawal in the case of lower oil revenues from the estimates of the budget, or leave the decision to withdraw to the financial and legislative authorities, while the decision to invest deposits of these funds vary from state to state, some are limited to investment in So as not to compete with government investment and private investment, with tools and deadlines to be determined for the diligence of the fund managers, and some of the funds are invested deposits at home and abroad at agreed rates.[/rtl] [rtl] [You must be registered and logged in to see this link.][/rtl] |
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