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Central Bank announces total foreign reserves to $ 72 billion

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5 hours ago, ChuckFinley said:

You are on it LB, make it equal and they will have no problem getting the Chucky money in.  

Like you said Chuck,.... Make it equal ...... Go $1:1

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Governor of the Central Bank Ali Alalak "Economy News"

Economy News Baghdad:

The governor of the Central Bank, Ali Alalak, that the cash reserve of foreign currency increased 3 billion dollars during the current year.

Al-Alak said in an interview published by the newspaper "Sabah" government, and viewed by "Economy News", "The central bank reserves now 48 billion and the previous year fell to 45 billion," noting that "the level of inflation and reserves are convenient for Iraq."

He added that "the launch of bonds may have a positive impact on the reserves of the Central Bank as the amounts received in foreign currency, and if it does not have a positive impact does not have a negative impact, because the dollar bonds against the Ministry of Finance transferred to the dinar by the Central Bank The situation is neutral, and there is no negative impact, but positive, as it is a strengthening of the reserves of the Central, which is the agent of the government and manages such operations.

"The decision to launch the bonds is not made by the government through the public budget because it is not launched only by law, and there are positive indicators in the case of the need to issue such bonds, and there is a successful experiment if it is decided in the budget for 2018 there will be foreign bonds."

Al-Alak pointed out that "recourse to external financing is one of the options to cover the deficit, because the size of internal domestic debt reached high levels difficult to expand, because it affects the liquidity of banks that buy part of the remittances of the treasury."

 

 

Views 440   Date Added 10/10/2017

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Central Bank announces the rise of foreign currency reserves to 3 billion dollars this year

 

 From 2017-10-10 at 12:17 (Baghdad time)

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Baghdad Mawazine News

The governor of the Central Bank, Ali Alalak, that the cash reserve of foreign currency increased 3 billion dollars during the current year.

Al-Alaq said in a press statement that "the Central Bank reserves now 48 billion and the previous year fell to 45 billion," explaining that "the level of inflation and reserves are convenient for Iraq."

He added that "the launch of bonds may have a positive impact on the reserves of the Central Bank as the amounts received in foreign currency, and if it does not have a positive impact does not have a negative impact, because against the bonds that are in dollars, the Ministry of Finance transferred to the dinar by the bank The situation is neutral, and there is no negative impact, but positive, as it is a strengthening of the reserves of the Central, which is an agent of the government and manages such operations.

"The decision to launch bonds is not made by the government through the public budget because it is not launched only by law, there are positive indicators in the case of the need to issue such bonds, and there is a successful experiment if it is decided in the budget for the year 2018 that there are foreign bonds" .

He pointed out that "recourse to external financing is one of the options to cover the deficit, because the size of domestic domestic debt reached high levels difficult to expand, because it affects the liquidity of banks that buy part of the remittances of the treasury."

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Central Bank Governor Ali al-Alak announced that foreign currency cash reserves had increased by $ 3 billion this year.
“The central bank reserves now amounted to 48 billion and the previous year fell to 45 billion,” Alaq said in an interview. “The level of inflation and reserves are comfortable for Iraq.”
He added that the launch of bonds may have a positive impact on the reserves of the Central Bank as the amounts received in foreign currency, and if it does not have a positive impact does not have a negative impact, because against the bonds that are in the Ministry of Finance transferred to the dinar by the Central Bank Vtkon The situation is neutral, and there is no negative impact, but positive, as it is a strengthening of the reserves of the Central, which is the agent of the government and manages such operations.
He added that the decision to launch bonds is not made by the government through the public budget because it is not launched only by law, and there are positive indicators in the case of the need to issue such bonds, and there is a successful experiment if it is decided in the budget for 2018 there will be foreign bonds.
“The resort to external financing is one of the options to cover the deficit, because the size of internal domestic debt reached high levels difficult to expand, because it affects the liquidity of banks that buy part of the remittances of the treasury.”

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"Iraq towards bankruptcy" ... Experts warn of a decline in reserves of cash

Roudao - Erbil

Warned the expert in the economic affairs, Mohammed Abdul Rahman, from the decline in Iraqi reserves while continuing to rely on the "unilateral economy", which is the export of oil. 

"The debt of Iraq has reached 120 billion dollars, and with the fluctuation of oil prices, the cash reserves may see a frightening decline," the academic Abdul Rahman told the RODAO news channel. 

He attributed the dependence of Iraq on the export of oil as a major source of income of the country to weaken the domestic process in front of the volume of foreign exchange and therefore the Iraqi cash reserves may see a decline. 

He added that Iraq depends too much on the "unilateral economy" of the export of oil in the absence of development of other sectors, including agricultural and industrial, and all those reasons may push the reserve of cash to decline.

He also warned of entering Iraq in danger again, with the continued withdrawal of the Iraqi government from the reserves of the Central Bank to address the growing deficit in the budget, with the decline in oil prices globally and the country's consumption about one third of the budget on monthly salaries. 

"Iraq is on its way to bankruptcy and the Iraqi government will be unable within two months to secure the salaries of state employees by relying entirely on the Iraqi cash reserves,
which are about to come into force," the sources said. 

He added that Iraq has been adopted since the era of former Prime Minister Nuri al-Maliki on the export of oil and the importance of reviving the rest of the country's natural resources did not enter the country in the spiral of "bankruptcy."

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Saturday 18 November 2017 2:15 pm| Number of readings                                                                                                                                                      The central bank's cash reserve fell by a third despite warnings

 
 

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BAGHDAD - Economist Salam Samisem said on Saturday that the central bank's monetary reserves of foreign currency have declined by one third due to several factors, while pointing out that many economists have warned of the danger of dependence on cash out of the cash reserve, which represents the most important guarantee of stability Financial and monetary support of the country.

 

"The monetary reserve of the Central Bank of foreign currency has decreased by one-third during the last period because of several factors," she said. "One of these factors is the reliance on it to fill the shortfall caused by the financial crisis in addition to the political interventions of political parties Economic growth of the central bank. "

 

"Many economists have warned of the danger of dependence on the cash reserve, which is the most important guarantee of financial stability and support the currency of the country," she said, adding that "these warnings did not find the ears of the ears with great regret."

 

On February 20, 2017, Iraq's central bank governor Ali al-Alak said Iraq had surpassed its biggest financial challenges last year, adding that it had also managed to maintain an acceptable level of cash reserves.

 

"Central and despite the decline in dollar imports from the sale of crude oil to 70 percent managed to maintain an acceptable level of cash reserves, which is estimated to total foreign currency and gold at 49 billion dollars." Finished 2

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Well. they're going to do what they need to do before they PULL THE TRIGGER THAT WILL CREATE THAT VOODOO THAT THEY WILL DO SO WELL !

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Well, the central bank have two options 

 

1- continue with the currency auctions and deplete the hard currency reserve in the long run.

or

2- remove exchange control, stop MCP and give real market value to the dinar

 

Go end exchange control

Go end MCP

Go RV

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7 hours ago, Laid Back said:

Well, the central bank have two options 

 

1- continue with the currency auctions and deplete the hard currency reserve in the long run.

or

2- remove exchange control, stop MCP and give real market value to the dinar

 

Go end exchange control

Go end MCP

Go RV

 

 3.) Decentralize the government and open the country to a free market economy .... cheers

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The Central Bank publishes a schedule for its sales in 13 years

SECTION: ECONOMICDECEMBER 7, 2017 3:05 PM
The Central Bank publishes a schedule for its sales in 13 years
The Central Bank publishes a schedule for its sales in 13 years
 

BAGHDAD / The Central Bank published Thursday a sales schedule for 13 years due to its daily currency auction of more than 451.16 billion dollars.

According to the table, the Central Bank's sales of banks and remittance companies during the period from 2004 to 2016 amounted to 451.16 billion dollars, while the bank bought from the Ministry of Finance during this period 413.4 billion dollars.

The bank's reserve in 2016 fell to $ 45.3 billion, after it reached $ 77.4 billion in 2013, $ 66.3 billion in 2014 and $ 53.7 billion in 2015, according to the table.

It is noteworthy that the auction of the currency caused the loss of large funds from the strategic storage of Iraqi funds, due to corruption and manipulation of public money.

 

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http://www.albaghdadiyanews.com/?p=83305

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Editor Hossam Al - Khafaji - Thursday 7 December
 
 
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The Central Bank of Iraq ( CBE) on Thursday published a sales schedule for 13 years due to a daily auction of more than 451.16 billion dollars. 

According to the table, the Central Bank's sales of banks and remittance companies during the period from 2004 to 2016 amounted to 451.16 billion dollars, while the bank bought from the Ministry of Finance during this period 413.4 billion dollars. 

The bank's reserve in 2016 fell to $ 45.3 billion, after it reached $ 77.4 billion in 2013, $ 66.3 billion in 2014 and $ 53.7 billion in 2015, according to the table.

 

 


Below is the table:

636482439036532892-%D8%AC%D8%AF%D9%88%D9

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where is the truth?

 

13:22 25.12.2017(Updated 13:30 25.12.2017)
 

Interview with the economist Dr. Karim Al-Fatlawi Professor of Economics at Mustansiriya University

 
 
00:00 / 15:43

 

Iraq's foreign currency reserves fell to $ 49 billion in 2017 from $ 80 billion in 2013. Unemployment and poverty rose by 25% and 30% respectively in 2017 compared to 12% and 19%, respectively, before the war against the terrorist "Da'ash" .

 

As well as losses of infrastructure estimated at 350 billion dollars as a result of the destruction of about 80% of them, and the decline of electricity capacity in Baghdad for about 8 hours a day. 
The International Monetary Fund expects the Iraqi debt to reach around $ 123 billion in 2017. Where recently Iraq has borrowed from the International Monetary Fund and some countries in order to fill the budget deficit and cover the expenses of the war against the organization "Daash." Many economists expect Iraq to turn into a new economic policy largely different from its previous economic policies after parliamentary elections in May next year.

On this subject says Dr. Karim Al-Fatlawi:

Because of the war against the organization "Da'ash" terrorist in addition to the political and social conditions led to this economic recession in Iraq, and this recession is accompanied by a drop in oil prices, and as Iraq is a country of rent depends on its imports of oil, Iraq's revenues decreased significantly with an increase in expenditures , Especially the war expenses, in addition to the loans obtained by Iraq from the International Monetary Fund and conditions set by the Fund, also increased the financial crisis.The budgets of the past year, as well as the budget for this year, are free of jobs. This indicates that the level of unemployment will rise, and this unemployment can not be absorbed by the private sector because of the weakness of this sector. This has led to a decrease in foreign exchange reserves in Iraq. The crisis is absent from the plans and strategies of the Iraqi government, and the lack of a vision for the coming years, and the solutions that offer nothing but a patchwork solutions, political differences, all indications indicate the need for Iraq to an economic vision for the future.

Mr. Prime Minister of Iraq stresses the need to diversify sources of income, which is a very important point, but how, this subject is so far unclear.

 

I think there is no way out of this crisis at present and in the short term, except by resorting to treaties with some countries. Iraq needs the international community, because the problem that happened to Iraq affects not only Iraq but the entire world. Is a global threat, so the government should invite countries to invest in Iraq, and this requires the Iraqi government to create an environment conducive to investment. The Iraqi law in the field of investment is a weak law and many of the gaps and the capital is cowardly, To security, and Iraq after the victory over the organization The security situation is pointing to stability more than it was, but political upheaval impedes the creation of a safe environment to attract investment.

 

Iraq is a great investment opportunity, it is from a rich country, and on the other hand suffers from the collapse of infrastructure, but it needs economic plans to manage this issue.

To listen to the full dialogue you can find it in the link at the top of the page.

 Prepared by: Diaa Ibrahim Hassoun

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2017/12/25 (21:01 PM)   -   Number of readings: 494   -   Number (4097)
 
 
Names, companies and fake bills that outperform billions of dollars



 Baghdad / Zahraa al-Jassim 
 

مستشار Investment Advisor to "(Range) sale window currency theft state will close next year and forwarded to the forgers to eliminate

 

Economists say that the sale of the dollar in the Central Bank of Iraq is one of the reasons for the failure of the economic development of the country and the theft of state funds, as the fictitious profits earned by the bank has exceeded hundreds of billions of dollars, at a time depends more than 90% of the work of the auction On the false invoices and companies and individuals with fake names, according to investment adviser Thaer al-Fili, who reveals in an interview for "(range), that the government decided to close the auction next year and the transfer of all documents and forged files to the judiciary.

The opening of the auction of the currency in the Central Bank of Iraq on a daily basis (except public holidays), where the offers of banks and financial transfer companies and banking in the form of a closed envelope, the presentations are the quantities requested or offered by banks, and where determine the central prices, banks and financial transfer companies and companies Registered Banking sign a pledge in which you agree that all information and financial statements you provide are correct and otherwise bear all legal consequences.
The adviser and expert on investment Thaer al-Fili, said that the subject of the window selling the currency in the Central Bank of Iraq since the period is traded in the seventh unit of economic reform in the Prime Minister, as this auction disrupted the contribution of banks in development and disrupted the work of the Iraqi private sector, To close the selling window of the dollar in the first quarter of 2018, and Iraqi banks to leave living on this window and is directed to the development of the Iraqi private sector and private investment, in order to start a real investment revives work and development in the country through the revitalization of the private sector.
Faily explains why the decision to close this window for several reasons, saying: We all know in 2004, the US Coalition created the window of sale of foreign currency and continued until now and was the reason for the time financing the purchases of the Iraqi state of the dollar on the fact that oil sales were and still stored in the Fund Especially on the basis of the fact that most of the private sector banks have increased and become 95% of their work is to get the dollar from the window between the currency, any of the currency auction in the Central Bank, which is the reason for the fictitious and profitable profits earned by the bank at the time of The currency is not in any country in the world, and Iraq is now the only country that has a currency auction in this way that contribute to the loss and full depletion of the Iraqi economy.
Al-Faily confirms that all economists believe that this auction is one of the reasons behind the backwardness of private sector development in Iraq. The reason is the fictional figures that Al Nubuk earns from this auction. However, all the banks in the world are developing. When one is established, it must contribute to development and boost the economy. By private sector, only Iraqi banks have no contributions in the private sector at all, and if some of them have contributions they are no more than shy and do not exceed their "2 or 5%" contribution, while 95% of the banking activity depends On the currency auction, because the profits earned by these banks and that For the size of 7% per day, per week up to 35% of their profits, up to an annual rate of 1820% profit this imaginary reality can not believe him one, a percentage will not be realized in the event of his money if invested in the private sector.
If we take the example of a bank that invests its money in the private sector, the highest rate of profit it will earn will be 10%, which is also high. The 10 million dinars contributed by the bank will return with one annual profit of one million dollars, which is the normal level for all the banks in the world. And a high level where most banks live on the rate of 2 or 4 or even 5% and have achieved natural profits, not to mention that this percentage of profitability "2 or 4% contribute to the revitalization and development of the wheel of the economy in the private sector.
He said: "The 10%, the high rate in the case of an Iraqi bank invests 10 million dollars in the auction of the currency, which they do now, one day the bank will receive 600 or 700 thousand dollars, while in the week will get 3 or 3 and a half million dollars From the auction of the currency, and annually will get from 160 to 180 million dollars profit of ten million dinars, so naturally the bank goes away from the development of the private sector and away from investment in it, which has frozen and frozen our investment in the private sector, despite the presence of 46 banks have recently arrived To 50 banks, a private sector whose contribution was still very little and did not exceed 3% Private sector. In Fili:
But in any case, the sale of currency depletion of Iraqi energies and funds and the theft of the state budget will not continue at all, because there is a decision will be issued gradually by referring all files of fraud to these banks to the judiciary, and there will be a real chase through cooperation between the concerned authorities to disclose documents and papers Counterfeit to banks, because we want to finish soon the process of auctioning the currency that rely on the wrong documents. 
The central bank sold $ 413.4 billion in the currency sale window between 2004 and 2016. The central bank sells the dollar at 1190 dinars. The central bank decided to set up the currency auction to finance the foreign trade of the private sector and transfer money To individuals outside the country and to cover the market's need for foreign currency.
The central bank has defended its measures to open a window for the sale and purchase of foreign currency, which was considered a way to ensure and stabilize the dinar exchange rate.

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17 minutes ago, yota691 said:
2017/12/25 (21:01 PM)   -   Number of readings: 494   -   Number (4097)
 
 
Names, companies and fake bills that outperform billions of dollars



 Baghdad / Zahraa al-Jassim 
 

مستشار Investment Advisor to "(Range) sale window currency theft state will close next year and forwarded to the forgers to eliminate

 

Economists say that the sale of the dollar in the Central Bank of Iraq is one of the reasons for the failure of the economic development of the country and the theft of state funds, as the fictitious profits earned by the bank has exceeded hundreds of billions of dollars, at a time depends more than 90% of the work of the auction On the false invoices and companies and individuals with fake names, according to investment adviser Thaer al-Fili, who reveals in an interview for "(range), that the government decided to close the auction next year and the transfer of all documents and forged files to the judiciary.

The opening of the auction of the currency in the Central Bank of Iraq on a daily basis (except public holidays), where the offers of banks and financial transfer companies and banking in the form of a closed envelope, the presentations are the quantities requested or offered by banks, and where determine the central prices, banks and financial transfer companies and companies Registered Banking sign a pledge in which you agree that all information and financial statements you provide are correct and otherwise bear all legal consequences.
The adviser and expert on investment Thaer al-Fili, said that the subject of the window selling the currency in the Central Bank of Iraq since the period is traded in the seventh unit of economic reform in the Prime Minister, as this auction disrupted the contribution of banks in development and disrupted the work of the Iraqi private sector, To close the selling window of the dollar in the first quarter of 2018, and Iraqi banks to leave living on this window and is directed to the development of the Iraqi private sector and private investment, in order to start a real investment revives work and development in the country through the revitalization of the private sector.
Faily explains why the decision to close this window for several reasons, saying: We all know in 2004, the US Coalition created the window of sale of foreign currency and continued until now and was the reason for the time financing the purchases of the Iraqi state of the dollar on the fact that oil sales were and still stored in the Fund Especially on the basis of the fact that most of the private sector banks have increased and become 95% of their work is to get the dollar from the window between the currency, any of the currency auction in the Central Bank, which is the reason for the fictitious and profitable profits earned by the bank at the time of The currency is not in any country in the world, and Iraq is now the only country that has a currency auction in this way that contribute to the loss and full depletion of the Iraqi economy.
Al-Faily confirms that all economists believe that this auction is one of the reasons behind the backwardness of private sector development in Iraq. The reason is the fictional figures that Al Nubuk earns from this auction. However, all the banks in the world are developing. When one is established, it must contribute to development and boost the economy. By private sector, only Iraqi banks have no contributions in the private sector at all, and if some of them have contributions they are no more than shy and do not exceed their "2 or 5%" contribution, while 95% of the banking activity depends On the currency auction, because the profits earned by these banks and that For the size of 7% per day, per week up to 35% of their profits, up to an annual rate of 1820% profit this imaginary reality can not believe him one, a percentage will not be realized in the event of his money if invested in the private sector.
If we take the example of a bank that invests its money in the private sector, the highest rate of profit it will earn will be 10%, which is also high. The 10 million dinars contributed by the bank will return with one annual profit of one million dollars, which is the normal level for all the banks in the world. And a high level where most banks live on the rate of 2 or 4 or even 5% and have achieved natural profits, not to mention that this percentage of profitability "2 or 4% contribute to the revitalization and development of the wheel of the economy in the private sector.
He said: "The 10%, the high rate in the case of an Iraqi bank invests 10 million dollars in the auction of the currency, which they do now, one day the bank will receive 600 or 700 thousand dollars, while in the week will get 3 or 3 and a half million dollars From the auction of the currency, and annually will get from 160 to 180 million dollars profit of ten million dinars, so naturally the bank goes away from the development of the private sector and away from investment in it, which has frozen and frozen our investment in the private sector, despite the presence of 46 banks have recently arrived To 50 banks, a private sector whose contribution was still very little and did not exceed 3% Private sector. In Fili:
But in any case, the sale of currency depletion of Iraqi energies and funds and the theft of the state budget will not continue at all, because there is a decision will be issued gradually by referring all files of fraud to these banks to the judiciary, and there will be a real chase through cooperation between the concerned authorities to disclose documents and papers Counterfeit to banks, because we want to finish soon the process of auctioning the currency that rely on the wrong documents. 
The central bank sold $ 413.4 billion in the currency sale window between 2004 and 2016. The central bank sells the dollar at 1190 dinars. The central bank decided to set up the currency auction to finance the foreign trade of the private sector and transfer money To individuals outside the country and to cover the market's need for foreign currency.
The central bank has defended its measures to open a window for the sale and purchase of foreign currency, which was considered a way to ensure and stabilize the dinar exchange rate.

 

Why wait? Just stop the auctions now!!! dummy’s 

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The 1st 1/4 of 2018 is in 7 days...I'm good with that.

Gives them a last ditch effort to suck in whatever chunky money from Erbil.

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Yota Thanks,  DV,  Please let it be TRUE.....Real true value to the IQD is coming folks...😊😁😊

 

GO CBI

 

GO RV / RI

Edited by tigergorzow
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1 hour ago, HowieC said:

The 1st 1/4 of 2018 is in 7 days...I'm good with that.

Gives them a last ditch effort to suck in whatever chunky money from Erbil.

It’s anywhere from 7 days to about 97 days.. but anytime in between is good for me!! Just do it!!!

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      That will be the moment for a combined European-Russian military intervention in America, a repetition of what happened when The French and Dutch intervened in America in 1776 and made the decisive difference in achieving American independence from the British.
       
      This time it is neocon/AIPAC/NSA-Washington that constitutionalist red state America needs to be liberated from.
       
            [source]     The American Bogdan Milošević/Lech Walesa?
       
      The scenario will be in perfect symmetry with what is happening in Donbass/Ukraine today: a few red states declaring independence and seceding from Washington, the latter not accepting this development and mobilizes against it and civil war will be the result.
       
      This will be the moment for Greater Europe/the North to support the secessionists, first with weapon deliveries via French Canada, Mexico or, like in 1776, via the Caribbean, later with mercenaries.
       
      After all, if in the thirties 150 million Anglos could generate thousands of mercenaries to fight in Spain on the side of Stalin against Spanish Catholic nationalists, 700 million Europeans can be expected to generate a multiple of that number to prevent AIPAC-Washington from consolidating its power and establish a USSR-2.0 and ally itself with China against Greater Europe, similar to what Roosevelt America did in the thirties vis-a-vis the USSR.
       
      Source: 
      http://deepresource.wordpress.com/2014/08/23/china-plays-game-of-chicken-with-the-us/
       
      http://www.wucnews.com/2014/09/china-plays-game-of-chicken-with-us.html
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