Without envy: Iraq is one of the world's richest countries

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 Without envy: Iraq is one of the world's richest countries Empty Without envy: Iraq is one of the world's richest countries

Post  Admin on Fri Dec 14, 2018 8:39 am

The governor of the Central Bank, the size of the Iraqi reserve of hard currency up to 60 billion dollars, and covers 170% of the size of the mass of the local currency, the governor said in an interview published (Alsumaria News) The size of the reserve currency of foreign currency is always measured to the size of mass Especially since the IMF recently developed a new standard which added the ability of the state to cover trade and debt repayment.


He pointed out that the size of the cash mass is 44 trillion dinars and Iraq is fourth in the ownership of US Treasury bonds and The reserve in the foreign currency reserve, and described the reserves of the Iraqi Central Bank of foreign currency as very comfortable within international classifications and is ahead of other countries, compared to the mass of cash offered by the local currency, and said the reserve is close to 60 billion dollars, so the Arab Monetary Fund considers Iraq from Countries that exaggerate the size of foreign exchange reserves.


On the issue of the currency of the category of 100 thousand dinars, he said that these ideas are traded by the Central Bank, but at the present time pending, pointing out that there is a trend in some countries to reduce the categories of currencies so as not to be stored or counterfeited, the currencies of small groups may prompt the citizen to bid farewell to banks to difficulty The Central Bank has a future plan to restructure the Iraqi currency, including the deletion of zeros, but this plan needs to take deliberate steps and a stable situation fully so as not to be exploited in the work of fraud and others, and announced the Central Bank of Iraq on July 12 this year Iraq has 89 tons A gold.


Is not it important in the statements and conversations is to mention the figures, but the important is to analyze and derive the data and results to be clear to all, is there a real need for the large cash bloc amounting to 44 trillion Iraqi dinars and in many cases if a large proportion of them hidden and outside the circulation and did not constitute deposits from them in banks more From 10%, and the large cash mass cost large amounts of money to print and transfer to Iraq because it is printed in a European country and every paper card has the cost of paper and printing, especially as our currency is printed in a special paper and forms and colors and sizes of multiple and contain many signs of safety, And because they are banknotes are vulnerable to damage in the preservation and circulation so that the need to reprint large quantities of them during the periods of time and this substitution is fraught with a lot of hearsay and signals similar to what is currently happening for 7 billion dinars, which is under investigation and investigation, we mean that the large cash mass is not Is a positive sign in all cases, but it may be a reflection of the failure and lack of confidence in the work of government and private banking because the citizen did not gain confidence from banking because of the lack of buildings, equipment and technologies and skills of working staff and delay in completing transactions so that may add T citizen to be in the case of waiting for the purpose of the deposit of cash, not to mention corruption and abuse in the treatment of customers sometimes do some


The banks are civil irregularities reflected on the depositors and shareholders without taking firm action from the Iraqi Central, which has not taken decisive decisions to the banks of violation 10 years ago, and depositors have never recovered their money, especially in the absence of the law of protection of deposits, which we hear but it is still wishful, and at the same time The banks of many countries have turned to automatic payment systems through Visa Card, Master Card and ATM and electronic withdrawals.


Our system still depends on clearing which may last for one week or more. The validity of the issuance is also required on certified instruments, B retirees once every two months indicates that we are not extend our bank Shubra to the imam, but we came back steps behind or we stayed bogged down, at least.


When talking about reserves of more than or less than $ 60 billion, one should not lose sight of the proportion of reserves of foreign loans and debt by sovereign or non-sovereign guarantees because the indebtedness is estimated at $ 120 billion or more of the kind not subject to Paris Club adjustments.


If the reserves are compared with revenues Oil (in the case of stopping the export of God forbid) and debt service and Treasury remittances Vali When reserves will survive after addiction to the window selling the dollar in the Central Bank of Iraq, which exceeds 150 million dollars a day under the title of coverage of Iraq's needs of goods and services, despite the wealth, Great sanctity The exchange rate, which does not change despite the variation that Iraq has experienced, and these prices currently amount to 120 thousand dinars per 100 dollars, although this figure is very far from the prices of the previous conversion (3 and 3) dollars per dinar and far from the prevailing prices (1184) dinars per dollar .


As some say, if Iraq shares, its fervor is limited to its ability to sell the dollar (dear) against the Iraqi dinar (which some countries never deal with or deal with clearly) without effort and effort.




It is the right of every Iraqi to boast about the race's possession of the gold reserves of 89 tons, which makes Iraq ahead in terms of gold reserves, and the reason for our motivation to boast is that gold as they say in the popular words (decoration and safe) in the sense that would appear Iraq with a view It is positive that Iraq is rich, but this richness is like a woman who is charming with her beauty and femininity but hiding inside her tons of pain, tragedy, despair and disappointment.


What is the benefit of the large cash mass and the size of its reserves and the weight of gold and the saying of states that Iraq is overstating its reserves Every day he dies Hundreds and dozens of patients and the scarcity and loss of medicines and the high cost of health services and a million displaced people in the winter without shelter, food and clothing and the benefit of all this and one third of our people living under the poverty line and there are more than one million unemployed and non-oil sectors are 1% of the balance of payments and most sectors In agriculture, industry and housing almost paralyzed and there is a shortage of 4 million housing units and there are more than 2 million citizens rely on social welfare that does not provide the minimum requirements for living and usefulness, and some of the remaining education is destroyed and widespread unemployment and addiction and cannibalism and the number of those who stand in We do not want to mention single men, women, widows or widows with or without their dependents because they destroy tears.


The significance of presenting these tragic cases is that the official must realize that the importance of his work and his words is not in And the world can not say what they say, including that we are the poorest country in the world because it is important that our people take what they deserve from the wealth of the Creator to them, because it is useless to come out in the equations of calculation and standard we are fromThe rich of the world, while millions of bellies sleep from hunger, injustice and corruption, and this is not directed to anyone but to those who hold the responsibility regardless of their weight.
Bassel Abbas Khudair




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