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Specialist: Iraq is free of sovereign funds
Monday, 20 April, 2015
between a specialist in financial affairs that the current situation requires a face and find ways to be capable of financing the activities of various kinds of building institutions and development activities and service.
competent Khaled Star attributed in his “morning” reason describing the Iraqi economy Balahada side, because it depends entirely on the oil export and import so affected by the current crisis more than other countries, the fact that oil revenues are funded by the president of its activities.
He pointed to the emergence of the fact resulted in the light of the foregoing that, that Iraq is the only country that does not have the sovereign funds like the rest of the poor and rich countries alike, pointing their importance entities to contain the financial surpluses of the state and billions are used when needed, as is happening now in most countries of the world progress.
defines sovereign funds or sovereign wealth funds by Wikipedia as
-owned fund by the state consists of assets such as land, or stock, or bonds or other investment devices are oil revenues primary source of funding for these funds through the surpluses of the state, which is worth billions of dollars.
It should be noted that these funds phenomenon is not new, but dates back to 1953, but it began excessively active recently.
He returned Star hinting the possibility to benefit from the Central Bank Law No. 56 and government bonds owned by the central bank rather than external borrowing, which is a burden as we have a duty payment which adds a large burden on the state budget.
However, the domestic lending market is weak for not fit with the size of the challenges that are accompanied by the impact of the security situation on the lending and deposit operations and fear because of it.
He concluded by referring to the need for proper use of available resources currently available and planned optimally focus on performance and the fact that a collective responsibility to confront the challenges that will be a criterion for the selection of competent and hold negligent.
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Monday, 20 April, 2015
between a specialist in financial affairs that the current situation requires a face and find ways to be capable of financing the activities of various kinds of building institutions and development activities and service.
competent Khaled Star attributed in his “morning” reason describing the Iraqi economy Balahada side, because it depends entirely on the oil export and import so affected by the current crisis more than other countries, the fact that oil revenues are funded by the president of its activities.
He pointed to the emergence of the fact resulted in the light of the foregoing that, that Iraq is the only country that does not have the sovereign funds like the rest of the poor and rich countries alike, pointing their importance entities to contain the financial surpluses of the state and billions are used when needed, as is happening now in most countries of the world progress.
defines sovereign funds or sovereign wealth funds by Wikipedia as
-owned fund by the state consists of assets such as land, or stock, or bonds or other investment devices are oil revenues primary source of funding for these funds through the surpluses of the state, which is worth billions of dollars.
It should be noted that these funds phenomenon is not new, but dates back to 1953, but it began excessively active recently.
He returned Star hinting the possibility to benefit from the Central Bank Law No. 56 and government bonds owned by the central bank rather than external borrowing, which is a burden as we have a duty payment which adds a large burden on the state budget.
However, the domestic lending market is weak for not fit with the size of the challenges that are accompanied by the impact of the security situation on the lending and deposit operations and fear because of it.
He concluded by referring to the need for proper use of available resources currently available and planned optimally focus on performance and the fact that a collective responsibility to confront the challenges that will be a criterion for the selection of competent and hold negligent.
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