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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


    Advisor Mazhar Saleh: No concern about Iraq's financial situation

    Rocky
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    Advisor Mazhar Saleh: No concern about Iraq's financial situation Empty Advisor Mazhar Saleh: No concern about Iraq's financial situation

    Post by Rocky Today at 6:41 am

    [size=38]Advisor Mazhar Saleh: No concern about Iraq's financial situation[/size]


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    October 2, 2024[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala: The financial advisor to the Prime Minister, Mazhar Muhammad Salih, reassured about the financial and economic situation of the country.
    Saleh said, “We should not be concerned about the current fluctuations in either monetary gold or the various foreign currencies that make up the country’s foreign reserve portfolio, which is diversified between major foreign currencies and monetary gold, and in accordance with the global standard investment guidelines adopted by the monetary authority in high-level technical cooperation with multilateral international financial organizations, specifically the International Monetary Fund and the World Bank.”
    He explained, “Usually, the Central Bank of Iraq hedges its sovereign investment portfolio with a studied and highly sensitive diversity, standard ratios and precise weights for each foreign currency in addition to the monetary gold that makes up foreign reserves, within the scope of what is called hedging against the risks of fluctuations in exchange rates of currencies and gold, which is a policy that expresses the efficiency of managing the country’s investment portfolio according to diversification in various foreign currencies and gold.”
    Saleh explained, “The decline in the market value of gold, for example, must be met by an increase in the value of the dollar or other foreign currencies through the management of the components of the foreign reserves portfolio itself, as diversification is an important pillar of the hedging policy in managing investments in foreign assets from fluctuations in foreign exchange rates and gold through diversifying the country’s sovereign investment portfolio.”
    He pointed out that “the sovereign investment portfolio avoids what is called in the literature of central banks’ accounting policy (unrealized losses) by immediately realizing (unrealized profits), which are the same unrealized profits that correspond to the unrealized losses resulting from the fluctuation of gold prices or foreign currencies at the same time.”
    He pointed out that “the availability of a good diversification policy in the assets or holdings of the investment portfolio, sufficient neutrality in maintaining the total market value of the country’s foreign asset reserves and the stability of their value at all times.”
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