Iraq Reserve Fund being Moved May 2012

[DinarBot]

Timing is Everything. Bush Knew. From Day One. Who Needs A Country's Oil. When you can Control A Country's Currency.

Hafidh invites to take advantage of the cash reserve in development

March 24 2012

Baghdad Yasser ascendant

The cash reserve is a real indicator of the economic situation of the country as it was great it demonstrates its ability to meet the challenges and problems that plague the world and vice versa any inability if we learned that Iraq's cash reserve estimated at 60 billion dollars, how measured ability to meet these challenges?

To answer this question answer economic thinker Dr. Hafidh study tagged what tale of the cash reserve and published in his magazine known (dialogue) that Iraq's possession of the reserve yadalama certainly characteristic of the economic situation but the problem lies in the fact that the economic situation now burdened with contradictions too stand serious impediment to any real transformation in the general structure and forms of production, investment and overall development in General.

He said Iraq was Hafiz largest cash reserves at the end of the 1970s, as then b (40) billion dollars then used this amount of money to cover military expansion and the requirements of war and former political system needs without taking into account the most economic controls and argued that waste then reserve was the basic aspects of the corruption of the previous regime destroyed considerations such as corruption and looting and manipulation.

He reinstated the cash reserve and achieved the 60 billion dollars came from the large development which included the volume of oil exports and increased revenue at the resulting mounting all increases in oil prices and growing demand and the need for more oil exports in the world

Al-haafiz finds that protect the Central Bank of any intervention to combat inflation and ensuring a balanced monetary policy alternatives to destructive practices of the former regime had led to the isolation of monetary policy on overall economic performance and reduce inflation but this the way partially did not contribute to support economic development plans and activities envisaged by the Iraqi State in this difficult phase.

It is noted that the persistence of this phenomenon contradicts the provisions of the Permanent Constitution necessitating complete linkage alsobusa cash and development performance, and without which cannot benefit from the results of the performance cash interest overall development but nonetheless led economic development and resume oil production and increased revenue to increase in the Central Bank's cash reserve to 60 billion dollars and saw the new origin Hafedh reserve come primarily from the need of the Iraqi dinar, which produced the Central Bank and the Finance Ministry requested and bought US dollar Which is natural in the context of the relationship between sound and economic and monetary institutions in different countries and the consequent increased reserve directly and it became necessary to preserve it from any external interventions and claims that reserve is saved in a bank account in America and then on to the four banks in Europe (Spain, Italy, France and Switzerland) by a decision of the Central Bank to ensure the safety of this amount, especially after the expiration of Bush's Executive order and specified next month Maes.

Al-haafiz cautioned that increasing cash reserves in Iraq took place in the context of new and striking in terms of the continued need for some foreign loans from international institutions, according to the draft budget for this year Iraq plans to benefit from the loan he is (5, 4) billion IMF approved and (2) million dollars from the World Bank external financial obligations are still a heavy burden on the country's financial capacity and economic thinker Dr. wonder Hafidh feasibility if cash reserve could not Serve the overall economic development priorities in Iraq? And concludes that this is a very important topic and calls for discussion clearly in the light of the experiences of other countries in terms of the development goals and the commitments of foreign hand.

http://www.alsabaah.com/ArticleShow.aspx?ID=24006

Edited March 24, 2012 by DinarBot

[Maggie123]

Wow Bot!!

For someone of few words you just told us "humans" a lot!

Thanks Bot!

[moneysoon]

I'll issue the next executive order: Two slabs of ribs,a few slices of smoked brisket, and some potatoe salad on my new private island. Did I mention I will appoint myslef prime Minster unitl a suitable replacement can be found?