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Including Iraq... Five Countries Possess More Than 1,000 Tons Of Gold, 7 MAY

 Including Iraq... Five Countries Possess More Than 1,000 Tons Of Gold

Economical  05/05/2024   The World Gold Council announced yesterday, Saturday, that Iraq and four Arab countries possess more than a thousand tons of global gold reserves.

The Council said in its latest schedule for the month of May that “the first five countries (Saudi Arabia, Lebanon, Algeria, Libya and Iraq) possess 1,72,6 thousand tons.”

He added, "Iraq maintained its ranking of 30th globally out of the 100 countries listed in the table with the largest gold reserves, as it has not purchased gold since May last year, bringing its gold possessions to 142.6 tons, which represents 9.3% of the rest of its other reserves."

The Council also pointed out that “the United States of America sits on the throne of the rest of the countries with the largest possession of gold in the world at 8,133.5 thousand tons, followed by Germany with 3,352.6 thousand tons, then Italy came with 2,451.8 thousand tons, while Suriname came at the bottom with 1.2 thousand tons.” “.

It is noteworthy that the World Gold Council is based in the United Kingdom, has extensive experience and deep knowledge of the factors causing market change, and its members consist of the largest and most advanced gold mining companies in the world.

Most Arab countries maintained the size of their gold reserves by the end of the first quarter of 2024, at the same levels recorded at the end of last year, with the exception of Oman and Qatar, which recorded net purchases of 4.5 tons and 1.5 tons, respectively.

Successive increases in gold prices led the value of most countries' reserves to record new levels, before the recent declines during the second half of April led to the value of those reserves returning to what they were.   https://alsabaah.iq/96029-.html

"RV UPDATE" BY MILITIAMAN, 7 MAY

 Militia Man 

 Non-oil revenues...Iraq has the largest sulfur deposit in the world.  They can tap into that.  It's going to be part of their non-oil revenues.  The amount of natural resources Iraq has is off the charts.  Anything that suggests they can't afford to do what they're going to do and go to a market economy I think is highly mistaken.

Article:  "Economist Muhammad Hashem Helou confirmed that the central bank cannot float the dinar exchange rate ."  

We've seen a few articles over the last week openly talking about the types of regiments that are exchange rate oriented, whether it's a fixed float or pegged etc.   Saleh has spoken about it, he says it [floating] is dangerous ...the environment would not be good so it wouldn't be the best choice... Circumstances for the country of Iraq which is still primarily a rentier, which means oil based, it's best to have a fixed exchange rate...

🔥 Iraqi Dinar 🔥 Oh My Gosh Official Rate 🔥 News Guru Intel Update Value ...

The Delay Surrounds Five Iraqi Ministries.. What Is The Relationship With The Budget?, 7 MAY

The Delay Surrounds Five Iraqi Ministries.. What Is The Relationship With The Budget?

Money  and business  Economy News – Baghdad   The Strategic Planning and Federal Service Committee in the House of Representatives revealed that there are 5 ministries that have not achieved advanced completion rates in their projects within the government program.

The Vice Chairman of the Committee, Mohamed Al-Baldawi, said in an interview followed by Al-Iqtisad News, that “those ministries have delayed in accomplishing the tasks assigned to them,” without referring to the names or descriptions of the work of those ministries.

Al-Baldawi attributed this reluctance to “the possibility of financial problems due to the delay in the budget law,” explaining that “those ministries were not allocated sufficient budgets for these projects, and there are projects in the first place that were not planned properly and thus they delayed.”

He stated that "there are also problems that accompanied the planning process within the ministry and the institution and at the leadership level and directing projects and human resources in the right direction."100 views   05/05/2024 - https://economy-news.net/content.php?id=43150

"RV UPDATE" BY FRANK26, 7 MAY

 Frank26 

 What the budget needs is for parliament to view the amendments that Sudani made and I pray one of those amendment is a new line item with a new exchange rate.

  there's no set date for this to happen.  That's just the way it is.  I'm sorry if you can't tolerate that, you should move on.  But if you can tolerate what a speculative investment brings into you your life then you understand, oh my gosh...[Saleh] just told the Iraqis the Iraqi citizens that the exchange rate for our currency it's almost reached the official rate and once it does we're calling upon it to float...

 There was a meeting two weeks before that massive entourage meeting that went to DC...They told you we're going to DC to deliver the monetary reform.  There was the new exchange rate.  They agreed upon it...and went back home and told contractors we're going to rewrite your contracts with that new exchange rate...When they were all done with that...they flew to Washington DC, they delivered the message...and spent over two weeks with powerhouses that are going to build their economy

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