Posts Tagged ‘Balance sheet’

Baghdad / justice – 05/08/2012

Ministry of Finance announced the completion of the final accounts for the year 2011 of the Republic of Iraq.

The ministry said in a press release was sent the final accounts for the year (2011) to the Office of Financial Supervision, which contained entry opening with analytical tables, financial statements, including – the balance sheet and calculate the outcome measure.’s (more…)

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While the downgrade of Unites States government debt by Standard & Poor’s shocked global financial markets, China has more reason to worry than most: the bulk of its $3.2tn in official foreign reserves – more than 60 per cent – is denominated in dollars, including $1.1tn in US Treasury bonds.

So long as the US government does not default, whatever losses China may experience from the downgrade will be small.

To be sure, the dollar’s value will fall, imposing a balance-sheet loss on the Peoples’ Bank of China (PBC, the central bank). But a falling dollar would make it cheaper for Chinese consumers and companies to buy US goods. If prices are stable in the US, as is the case now, the gains from buying US goods should exactly offset the PBC’s balance-sheet losses.

Read more: http://english.aljazeera.net/indepth/opinion/2011/08/20118217551162510.html