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PM's advisor calls to form "Stability Fund" to support budget DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

PM's advisor calls to form "Stability Fund" to support budget

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Post by Cascadian Sun Jan 18, 2015 8:20 pm

Baghdad (AIN) –The Economic Advisor of the Prime Minister, Mudhhir Salih, called to form "The Stability Fund" to support the general state budget.

 

While holding a lecture at the headquarters of the Ministry of Electricity, Salih said "The Stability Fund is essential in Iraq where it will be equal to the Development of Iraq Fund DFI." /End/

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PM's advisor calls to form "Stability Fund" to support budget Empty Re: PM's advisor calls to form "Stability Fund" to support budget

Post by Cascadian Sun Jan 18, 2015 8:25 pm

I agree that a stability fund is necessary for Iraq to weather the boom/bust cycle of oil prices.  And those oil price swings appear to continue if the futures market is any indication.

I like the idea that they want to make this stability fund equal to the DFI, which is the primary means of transferring money into Iraq for spending.  But he comes up quite a bit short on details on where they will find that much money!  Keep in mind, the reason that the DFI was brought into existence was to provide a mechanism to collect international payments to Iraq and distribute the funds in Iraq safe from the threat of having the funds lost through lawsuit and/or seizure.

They would have to find a way to build that fund with money internally as far as I can see.  And I still don't see a way for them to tax the citizens into governmental prosperity.

(In dinarland, I am sure that Mday would seize on this article to claim that the only way they would be able to do this would be to RV the dinar.)

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