Cash reserves of Federal and Central 90 billion dollars

[Carrello]

Appearance of favor: the weak economic situation and diversification cash reserves of 90 billion dollars

PUKmedia Azad Ahmed /

Baghdad 09/05/2012

Deputy Governor of the Central Bank of the appearance of Mohammed Saleh said that the central bank reserves up to $ 67 billion, pointing out that Iraq reserves all foreign exchange, pointing out that the cash reserves of the Federal Government and Central Alnbug estimated almost ninety billion dollars.

Saleh added that the economic situation in Iraq is weak because the economy diversification mono and only depends on oil, pointing out that to be providing multiple alternatives and invest in it, because the mono economy is affected by fluctuations in oil prices and external factors.

My link

[Maggie123]

Thank You Carrello

Reserves + Central Alnbug = 90 Billion???

[fnbplanet]

Apparently, the Federal Government is sitting on $23 Billion of it's own.

[Butifldrm]

Apparently, the Federal Government is sitting on $23 Billion of it's own.

fnb, I have a few questions for you. I know Iraq has 52B over here in the US which is being held under our protection to back up there currency, 1. Do you think the CBI holds that 67B within the country of Iraq or here in the US. 2. The money that (the 52B), is held here in the US, do you believe it is held as part of the 67B in reserves they talk about?

The Commission, inter alia, resolutions and recommendations to be carried in by making a recommendation to the Council of Ministers to make a formal request on behalf of the Government of the Republic of Iraq by United States Government Foreign Ministry for a new presidential decree provides protection for Iraqi funds for new year from 20 may 2012 according to the Central Bank of Iraq, the decision of the President of the United States Barack Obama, the Iraqi funds abroad under us protection, preventing any judicial decisions freezing or confiscation under a compensation claims Debt decisions by companies and lifted, this protection would continue until the 20th of May next. The Central Bank estimated the size of these funds is great there are several billion dollars distributed in a number of States, in addition to the Iraq Development Fund which contains the oil sale proceeds that vary between 8 $ 16 billion, and there is also a $ 52 billion dollars of funds belonging to the Central Bank established in US banks as a cover for the Iraqi currency and are not subject to freezing decisions. Central Bank and confirmed by Deputy appearance of Mohamed Saleh said Iraq is capable of protecting its funds abroad and owns all means defensive stand in Iraq conditions exploiters, and what happened after 1990 to sue as his compensation in huge amounts, stressing that Iraq is not responsible for the policies of the former regime, as committed to follow up such cases confirms that most submitted

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[Dinar Buddy]

HEY... these numbers don't match Brietlings numbers...

[Dalite]

Apparently, the Federal Government is sitting on $23 Billion of it's own.

I would think that would be an acceptable number for the GOI to hold.

If the DFI averages between 6 and 16 billion, call it 11 billion.

There is also the 5% of oil sales held to repay Kuwait, as well as some build up for the biannual Paris Club repayment.

The IMF loan comes up again at the end of the year, so the GOI has to decide to pay it, or ask for another extension.

The 67 billion, while represented as USD, contains a mixture of USD, SDR, Pounds, Euro and Gold, so the 52 billion in USD also seems to be believable.

I am sure the gurus will tell us not to trust the CBI numbers, so I guess it is a matter of whom one choses to put their faith in.

HEY... these numbers don't match Brietlings numbers...

I haven't found any numbers that match Brietling's numbers.

[Joker017]

Something I've kinda been wondering, When Iraq Starts pulling U.S Dollars off the street and out of the public's hands (De-Dollarizing the country) will these U.S Dollars be added to Iraq's Foreign Currency reserves! In other words if they pull 10 Billion U.S. Dollars off the streets (de-dollarizing) will the Foreign Currency reserves increase by 10 Billion??? Thanks in advance....

[Butifldrm]

Something I've kinda been wondering, When Iraq Starts pulling U.S Dollars off the street and out of the public's hands (De-Dollarizing the country) will these U.S Dollars be added to Iraq's Foreign Currency reserves! In other words if they pull 10 Billion U.S. Dollars off the streets (de-dollarizing) will the Foreign Currency reserves increase by 10 Billion??? Thanks in advance....

Joker, I have wondering the same thing. It would make sense that you are correct.

[Dalite]

Something I've kinda been wondering, When Iraq Starts pulling U.S Dollars off the street and out of the public's hands (De-Dollarizing the country) will these U.S Dollars be added to Iraq's Foreign Currency reserves! In other words if they pull 10 Billion U.S. Dollars off the streets (de-dollarizing) will the Foreign Currency reserves increase by 10 Billion??? Thanks in advance....

A certain amount will go to the banks to support business that import goods and services.

The remainder could be added to the proceeds for selling gold (if that plan plays out) and could generate enough excess that some of the Dinar supply could be contracted, and Foreign Reserves continued with growth.

The trick is to maintain balance between the currencies, imports, salaries and consumption; all currently fueled by oil exports alone.

The volitile price of oil, coupled with the insurgents damaging pipelines, or pipelines shut done in defiance don't help to make the balancing act any easier. There are few dependable averages.

Also, the GOI continues to push contracts to Kurdistan where the safety and security is more in tune with foreign investor's requirements, and this does little good .

Baghdad needs to get it's act together, or we may have to exchange for new currency that ONLY has Kurdish writing on it.

[Joker017]

Joker, I have wondering the same thing. It would make sense that you are correct.

Thanks for your responses Butifldrm & Dalite... Much appreciated!

Edited September 5, 2012 by Joker017

[SocalDinar]

fnb, I have a few questions for you. I know Iraq has 52B over here in the US which is being held under our protection to back up there currency, 1. Do you think the CBI holds that 67B within the country of Iraq or here in the US. 2. The money that (the 52B), is held here in the US, do you believe it is held as part of the 67B in reserves they talk about?

Hello Butifldrm

I believe the Fed holds Iraqs foreign reserves in New York.

Check out this previous article dated August 18, 2012

Thanks to Iraq's growing oil revenue, the Iraqi central bank has about $60 billion in foreign exchange reserves, held in accounts at the Federal Reserve Bank of New York, with which to meet the demand for dollars. But the new flight of dollars out of Iraq is prompting widespread criticism of the central bank and of the Iraqi government.

Read more:

[fnbplanet]

fnb, I have a few questions for you. I know Iraq has 52B over here in the US which is being held under our protection to back up there currency, 1. Do you think the CBI holds that 67B within the country of Iraq or here in the US. 2. The money that (the 52B), is held here in the US, do you believe it is held as part of the 67B in reserves they talk about?

Hello Butifldrm

I believe the Fed holds Iraqs foreign reserves in New York.

Check out this previous article dated August 18, 2012

Thanks to Iraq's growing oil revenue, the Iraqi central bank has about $60 billion in foreign exchange reserves, held in accounts at the Federal Reserve Bank of New York, with which to meet the demand for dollars. But the new flight of dollars out of Iraq is prompting widespread criticism of the central bank and of the Iraqi government.

Conscious / central bank adviser: the Development Fund for Iraq of more than $ 60 billion annually under way

04/06/2011

Conscious / Baghdad / h. B

Central bank adviser said the appearance of Mohammed Saleh, said that the Development Fund for Iraq in New York and by a decision of a federal 1483 for the year 2003 and the supervision of the United Nations Development Fund for Iraq of more than $ 60 billion in ongoing annual funds.

Saleh said in a statement to the reporter ( Media News Agency / INA ) that "the Development Fund for Iraq to go through all the proceeds of Iraq's economic, which includes at least $ 60 billion annually ASSETS Current disposal to balance and imports the government and others.

indicating that this money is protected two things the first resolution Security Council and the second being that the central bank is managed by the money and also under the supervision of the United Nations in order to protect the share of Kuwait and the amount of 5%.

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[zigmeister]

A certain amount will go to the banks to support business that import goods and services.

The remainder could be added to the proceeds for selling gold (if that plan plays out) and could generate enough excess that some of the Dinar supply could be contracted, and Foreign Reserves continued with growth.

The trick is to maintain balance between the currencies, imports, salaries and consumption; all currently fueled by oil exports alone.

The volitile price of oil, coupled with the insurgents damaging pipelines, or pipelines shut done in defiance don't help to make the balancing act any easier. There are few dependable averages.

Also, the GOI continues to push contracts to Kurdistan where the safety and security is more in tune with foreign investor's requirements, and this does little good .

Baghdad needs to get it's act together, or we may have to exchange for new currency that ONLY has Kurdish writing on it.

That is so funny....but damn it could happen!

[uncirculd]

Hmm, not funny really. But if it will allow an exchange, I don't care what language is on it. Just want it to be worth the wait

Just think, if they ever get out of chapter 7, they will have 800 billion of DFI funds to play with. But if we did see a 2 state break off, how would they divide it? There goes another long battle.

Edited September 6, 2012 by uncirculd