Thurs. AM KTFA News Articles 8-4-22

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Samson » August 4th, 2022

The Central Bank of Iraq is the first in the world to buy gold in 2022

4th August, 2022

Central banks globally added 59 tons of gold to their reserves last month and no sales were reported, according to the latest data compiled by the World Gold Council

The Central Bank of Iraq has become the latest bank to add a significant amount of gold to its gold reserves this year. The Iraqi Bank bought 34 tons of gold. This is the first increase in gold reserves by the Central Bank of Iraq since it purchased 7 tons in 2018. The Bank of Iraq now owns 130 tons of gold

Uzbekistan continued its gold buying spree, buying another 8.7 tons. It has added nearly 9 tons of gold to its reserves in each of the past three months. Gold reserves represent just over 60% of Uzbekistan’s total reserves

Turkey has also been adding gold to its reserves constantly. Last month, the Turkish bank added 7.7 tons of gold to its holdings. Turkey’s central bank added 37 tons of gold to its holdings in the first quarter of this year alone. It now owns more than 455 tons of gold, which is approximately 30% of its reserve assets

In June, the Central Bank of Kazakhstan increased its gold holdings by 4.2 tons. This was the third consecutive month of purchases after several consecutive months of sales earlier in the year and back to 2021

India bought 3.7 tons of gold last month. Since resuming buying in late 2017, the Reserve Bank of India has bought more than 200 tons of gold. In August 2020, there were reports that the Reserve Bank of India was considering increasing its gold reserves significantly  LINK

Learn about Iraq’s rank among the richest countries in the world

4th August, 2022

Iraq ranked 114th among the richest countries in the world in terms of per capita GDP adjusted for purchasing power, according to the US magazine Global Finance.

The magazine said in its latest report for the month of August, seen by Shafak News Agency, that Iraq ranked 114th in the richest countries in the world out of 192 countries listed in the table, indicating that “the per capita GDP in Iraq amounted to 12,141 thousand dollars.”

Globally, according to the magazine’s report, Luxembourg ranked first in the world’s richest countries with a share of 140,694 thousand dollars, followed by Singapore second with a share of 131,580 thousand dollars, and Ireland came third with a share of 124,596 thousand dollars, while Burundi was at the bottom of the table and ranked 192 with a share of 856 dollars, preceded by South Sudan 953 dollars.

In the Arab world, Qatar ranked first and fourth globally with a share of 112.789 thousand dollars, followed by Bahrain, 25th globally with a share of 57,424 thousand dollars, followed by Saudi Arabia third and 28th globally with a share of 55,368 thousand dollars, followed by Kuwait fourth and 31st globally with a share of 50,919 thousand dollars, followed by Oman ranked fifth and ranked 56 globally, with a share of 35,286 thousand dollars, followed by Libya sixth with a share of 18,345 thousand dollars, and then Egypt came seventh with a share of 14,928 thousand dollars.

She added that Algeria came in eighth, with a share of 13,002 thousand dollars, followed by Tunisia ninth, with a share of 12,300 thousand dollars, and then Iraq came in tenth, followed by Jordan in the 11th Arab rank, with a share of 11,861 thousand dollars, while the table did not address: Lebanon, Syria, and Afghanistan because there are no integrated official statistics Including.  LINK

Source: Dinar Recaps

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