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Sat. AM TNT News Articles (2) 10-1-22

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TNT

Tishwash:
Iraq is the largest buyer of gold for the second quarter of this year

The World Gold Council announced today, Saturday, that Iraq was the world’s largest buyer of gold during the second quarter of 2022.

The council said in a tabular report seen by Shafak News Agency, that “Iraq bought 33.97 tons during the second quarter of the current year 2022, bringing its balance to 130.3 tons, followed by Turkey by buying 26.60 tons, then Uzbekistan by 26.44 tons, and then Kazakhstan came By 15.79 tons, then India came by 8.39 tons.

He added that “the most countries selling gold during the second quarter of the current year 2022 was Germany at 3.36 tons, followed by Mongolia by 0.80 tons, followed by the United Arab Emirates by 0.27 tons.  link

The appearance of Muhammad Salih: Currency and gold reserves .. Covering the country’s short-term foreign debts

The financial expert, advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the currency and gold reserves are a cover for the country’s short-term foreign debts.

He told the National Iraqi News Agency ( NINA ): The efficiency of these reserves is seen with various indicators, such as the ratio of foreign reserves coverage of locally sourced cash, or the ratio of foreign reserves coverage of the country’s foreign debt and its short-term due services.

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Saleh added: These indicators all confirm today that the country’s foreign exchange reserves, which amounted to about 85 billion dollars, including cash gold, are at a high level of efficiency and represent real monetary stability for the country.

He explained: The country’s reserves are managed according to the internationally approved standard investment guides and in various major existing currencies, and are invested in the best international financial instruments with high credit ratings, low risks, and are considered one of the actions of the country’s foreign monetary policy. link

Source: Dinar Recaps

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