yota691 Posted October 25, 2014 Report Share Posted October 25, 2014 Iraq has a cash reserve of more than 74 billion dollars 10/25/2014 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 / 3 Link to comment Share on other sites More sharing options...
SocalDinar Posted October 25, 2014 Report Share Posted October 25, 2014 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. Link to comment Share on other sites More sharing options...
rockfl9 Posted October 25, 2014 Report Share Posted October 25, 2014 Wafa is misinformed. The CBI has cash the cash reserves not the GOI! It's easy to see how the country's finances are in a mess with people like her on the finance committee! Link to comment Share on other sites More sharing options...
Laid Back Posted October 25, 2014 Report Share Posted October 25, 2014 They have more than 74 billions + gold This article is part of misinformation campaign Go increase exchange rate 1 Link to comment Share on other sites More sharing options...
v-star 650 Posted October 25, 2014 Report Share Posted October 25, 2014 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 ? Link to comment Share on other sites More sharing options...
pontiyak Posted October 25, 2014 Report Share Posted October 25, 2014 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 Link to comment Share on other sites More sharing options...
rockfl9 Posted October 25, 2014 Report Share Posted October 25, 2014 (edited) 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 October 25, 2014 by rockfl9 Link to comment Share on other sites More sharing options...
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