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Podcast: My FX Buddies
Episode: $100 Billion in Iraqi Money Sits at the U.S. Federal Reserve
Description: A staggering figure has re-entered the conversation around link to My FX Buddies Blog postIraq’s financial management: more than $100 billion in savings held at the U.S. Federal Reserve.Economic expert Duraid Al-Anzi says Iraq should never have faced a financial crisis given its oil revenues — arguing that repeated warnings to use conservative oil price assumptions in national budgets were ignored.According to Al-Anzi, Iraqi authorities were advised not to base budgets on high oil prices and instead cap assumptions around $65 per barrel to allow surplus revenues to accumulate as s...