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Funding a business
Why Foreign Exchange Reserves Are Important For A Country?
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[QUOTE="Kingsley, post: 208733, member: 30278"] Foreign reserves are the back bone of any economy of the world, this an amount of money kept specially as a backup just in case any economy faces a crisis that is beyond what the government can handle then they will fall back to the foreign reserves it is more like a last resort. It is just like the money will set aside for some unforeseen circumstances that may arise. But unfortunately in this part of the world some of the government are not sensitive to the relevance of this special fund called foreign reserve. They deplete the foreign reserve and emblezzle funds from the foreign reserve when even the need for it has not really arise. They go all out to borrow from other countries and mostly from thr world bank and IMF all in the name of funding projects that has no physical evidence on ground and at the end the money gets to develop wings and fly away, mostly in this current administration we have had cases where public officers embezzled and siphoned public funds and they were covered up by the government because they are all collaborators. Currently our foreign reserve has been heavily depleted by this current administration and the debt profile is madly high [/QUOTE]
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Why Foreign Exchange Reserves Are Important For A Country?
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