Optionality
free — surplus + low debt + ~$2.9T of net-creditor sovereign capital give near-total fiscal freedom. The one constraint is the dirham's hard peg to the USD, which subordinates monetary policy to the Fed.
Sourced figures 1
- Wikipedia — budget/debt/SWF lists + analytical (dirham peg) budget surplus + 34% debt + $2.9T SWFs (free) vs USD-pegged dirham (monetary constraint)
the working
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