Friday, October 18, 2024

RV UPDATE BY CLARE, 19 OCT

 Clare 

 Article:  "Iraq Increases Reserves at IMF by 50%"  Quote:   "Iraqi Cabinet...approved an increase in Iraq's quota at the International Monetary Fund (IMF) by 831.9 million Special Drawing Rights (SDR),

 equivalent to 1.45 trillion Iraqi dinars [$1.1 billion] based on the exchange rate as of October 8, 2024. 

This 50-percet increase...will enhance the country's voting power within the IMF...

The IMF created SDRs as an international reserve asset to supplement member countries' official reserves...

They serve as a potential source of liquidity for IMF member nations."

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