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Government advisor: There is no concern about Iraq’s financial situation and our foreign reserves are diverse
Time: 10/02/2024 14:02:16 Read: 2,834 times
{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, reassured about the country’s financial and economic situation. Saleh told {Al-Furat News} agency:
“We should not worry about the ongoing fluctuations, whether in monetary gold or the various foreign currencies that make up the country’s foreign reserve portfolio, which varies from major foreign currencies and monetary gold and in accordance with the international standard investment guides that it adopts.”
The monetary authority has high-level technical cooperation with multilateral international financial organizations, specifically the International Monetary Fund and the World Bank.” He stated,
“Usually, the Central Bank of Iraq hedges in managing its sovereign investment portfolio with a well-studied and highly sensitive diversification, with standard ratios and precise weights for each foreign currency, in addition to the cash gold from which the foreign reserves are composed.
This is within the scope of what is called hedging against the risks of fluctuations in currency and gold exchange rates, which is a policy that expresses efficiency.” Managing the country's investment portfolio according to diversification in various foreign currencies and gold. Saleh explained,
“A fall in the market value of gold, for example, must be offset by a rise in the value of the dollar or other foreign currencies through managing the components of the foreign reserves portfolio itself, as
diversification is an important pillar of the hedging policy in managing investments in foreign assets from currency exchange rate fluctuations.” foreign currencies and gold by diversifying the country’s sovereign investment portfolio.” He pointed out that
"the sovereign investment portfolio avoids what is called in the literature of the accounting policy of central banks (unrealized losses), by immediately realizing (unrealized profits),
which are the same unrealized profits that correspond to the unrealized losses resulting from the fluctuation of gold or foreign exchange prices at the time." same". He pointed out that
"a good diversification policy, in the assets or holdings of the investment portfolio,
provides sufficient neutrality in
preserving the total market value of the country's foreign asset reserves and
always stabilizing their value."
https://alforatnews.iq/news/مستشار-حكومي-لا-قلق-في-الوضع-المالي-للعراق-واحتياطنا-الأجنبي-متنوع
Time: 10/02/2024 14:02:16 Read: 2,834 times
{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, reassured about the country’s financial and economic situation. Saleh told {Al-Furat News} agency:
“We should not worry about the ongoing fluctuations, whether in monetary gold or the various foreign currencies that make up the country’s foreign reserve portfolio, which varies from major foreign currencies and monetary gold and in accordance with the international standard investment guides that it adopts.”
The monetary authority has high-level technical cooperation with multilateral international financial organizations, specifically the International Monetary Fund and the World Bank.” He stated,
“Usually, the Central Bank of Iraq hedges in managing its sovereign investment portfolio with a well-studied and highly sensitive diversification, with standard ratios and precise weights for each foreign currency, in addition to the cash gold from which the foreign reserves are composed.
This is within the scope of what is called hedging against the risks of fluctuations in currency and gold exchange rates, which is a policy that expresses efficiency.” Managing the country's investment portfolio according to diversification in various foreign currencies and gold. Saleh explained,
“A fall in the market value of gold, for example, must be offset by a rise in the value of the dollar or other foreign currencies through managing the components of the foreign reserves portfolio itself, as
diversification is an important pillar of the hedging policy in managing investments in foreign assets from currency exchange rate fluctuations.” foreign currencies and gold by diversifying the country’s sovereign investment portfolio.” He pointed out that
"the sovereign investment portfolio avoids what is called in the literature of the accounting policy of central banks (unrealized losses), by immediately realizing (unrealized profits),
which are the same unrealized profits that correspond to the unrealized losses resulting from the fluctuation of gold or foreign exchange prices at the time." same". He pointed out that
"a good diversification policy, in the assets or holdings of the investment portfolio,
provides sufficient neutrality in
preserving the total market value of the country's foreign asset reserves and
always stabilizing their value."
https://alforatnews.iq/news/مستشار-حكومي-لا-قلق-في-الوضع-المالي-للعراق-واحتياطنا-الأجنبي-متنوع
