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Iraq has a cash reserve of more than 74 billion dollars


yota691
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Iraq has a cash reserve of more than 74 billion dollars

10/25/2014

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BAGHDAD / JD / .. squandered the parliamentary finance committee dangerous impact of lower oil prices and the global economic crisis on the Iraqi economy, as it has cash reserves of more than 74 billion dollars.
Said committee member MP Wafa Ahmed Kadhim told / JD /: that "the reserve currency of the bank nearly 74 billion dollars, twice the mass of cash in circulation in the country and this is not in the best countries in the world and is a good indicator to reassure the Iraqi people."
She added: "The Iraqi economy is immune from the global economic crisis and low oil prices," likely the advancement of the Iraqi economy in the coming period, especially after the application of the government program to support the private sector, "./ ended / 8 /
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Thanks Yota,

 

I know we dissect these articles to deeply and they can always be interpreted many ways , but I dont like the specific line  "the reserve currency of the bank nearly 74 billion dollars, twice the mass of cash in circulation IN THE COUNTRY
 

Kind of makes it sound like our dinars don't count. I don't believe that to be true and it is most likely a translation issue.

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good  post  on cash !    I would think this is  --- gold ,  oil money ,  other cash in holdings  {  money from  England , Saudi Arabia, united states , just to say a few }  but I forget  what the  official cash  would need to be  for the dinar to start it`s  up swing in value ? 

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Here's the part I don't get.....

 

They claim to have 74 billion in reserves, yet are forecasting a 50 billion dollar deficit for next year, all the while pumping oil, and raking in the cash from that as well.

 

I say pay off the deficit, pay off your commitments to other countries, start fresh & do an RV at a buck....

 

The best things in life RV

yak

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Here's the part I don't get.....

 

They claim to have 74 billion in reserves, yet are forecasting a 50 billion dollar deficit for next year, all the while pumping oil, and raking in the cash from that as well.

 

I say pay off the deficit, pay off your commitments to other countries, start fresh & do an RV at a buck....

 

The best things in life RV

yak

The cash reserves BELONG to the Central Bank NOT the GOI. In fact the CBI Law prevents the CBI from loaning it to the GOI. They could change the law but if they did it would put the dinar in the toilet. Edited by rockfl9
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