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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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Two months after its 57% rise, Iraq sells about one billion dollars in US bonds, instead of transfer

rocky
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Two months after its 57% rise, Iraq sells about one billion dollars in US bonds, instead of transfer Empty Two months after its 57% rise, Iraq sells about one billion dollars in US bonds, instead of transfer

Post by rocky Tue 16 Aug 2022, 5:38 pm


[size=30]Two months after its 57% rise, Iraq sells about one billion dollars in US bonds, instead of transferring surplus funds into assets


2022-08-16
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Yes Iraq: Baghdad

With the “accumulation” of funds in Iraq as a result of the surplus resulting from the selling prices of oil, which is hoped to reach within a year more than 25 billion dollars, Iraq directed to raise its holdings of reserves, whether in hard currency or gold, or even purchase US bonds.
Indeed, Iraq raised its holdings of US bonds this year by more than 57%. In March, it bought US bonds with more than one billion dollars, and then bought in April more than 4 billion dollars, bringing its holdings of bonds to 32.8 billion dollars, compared to April 2021, which It was only $20.9 billion.
It is natural that Iraq's possession of US bonds will continue to rise as Iraq's oil revenues continue to rise due to the rise in the prices of raw materials, but it is strange that Iraq, after only two months of purchasing bonds with more than 4 billion dollars, sold bonds of nearly one billion dollars to decrease its holdings of bonds, the matter Which raises questions about the reason for selling these bonds and whether Iraq “needs” money despite its high revenues, as Iraq was forced to sell bonds instead of keeping them and benefiting from the potential returns from them.
 
The US Treasury said that “Iraq’s possession of US Treasury bonds for the month of June of 2022 decreased by 929 million dollars, or 2.82%, to reach 31.965 billion dollars, after it was 32.894 billion dollars in the month of May,” noting that “these bonds rose from the same month. From last year 2021, when Iraq’s holdings of bonds amounted to $21.2 billion.”
 
She added that "Iraqi bonds, including long-term guarantees amounting to 15.939 billion dollars and short-term guarantees amounting to 16.026 billion dollars," noting that these bonds represent 0.4% of the world's bonds.
 
And Iraq's possession of US bonds has previously increased to about 33 billion dollars, at a rate of 57% within a year, and it was hoped that Iraq would get profits estimated at more than 300 million dollars according to the new interest rate approved by the US Federal Bank.
The US Treasury said at the time that “Iraq’s possession of US Treasury bonds for the month of May of 2022 increased by 4 billion and 584 million dollars, or 13.94%, to reach 32.894 billion dollars, after it was 28.310 billion dollars in the month of April,” indicating that “these bonds also rose For the same month last year 2021, when Iraq’s holdings of bonds amounted to $20.9 billion.”
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