Economist: Iraq can raise its gold reserves to higher numbers

Baghdad Post Wednesday, 20 February 2019 11:22 p

Economist Al-Amin safe haven


Al-Amin said the possibility of increasing the reserves of gold in the Central Bank of Iraq to higher than what has been achieved recently, if followed more stringent plans with the intensification of anti-corruption measures and stop wasting public money.

 "The increase in the gold reserves of the CBI reflects the progress of the economic development plans that led to the creation of a cash surplus which enabled the bank to strengthen its currency by buying new tons of gold to become 96.3 tons," he said in a press statement.

 He added that "despite the passage of Iraq in previous years, wars and challenges adversely affected the structure of economic, but the development plans contributed to a simple progress in the level of internal circulation of the national currency, and the result of this the launch of loans and advances to establish medium and small projects."

"Moving the stagnant market and activating the business and meeting the needs of the citizen and the provision of labor means moving the money within a deliberate plan that will benefit monetary policy and increase the cash surplus that the central bank should use to enhance the value of the national currency."Economist Al-Amin safe haven


Al-Amin said the possibility of increasing the reserves of gold in the Central Bank of Iraq to higher than what has been achieved recently, if followed more stringent plans with the intensification of anti-corruption measures and stop wasting public money.

 "The increase in the gold reserves of the CBI reflects the progress of the economic development plans that led to the creation of a cash surplus which enabled the bank to strengthen its currency by buying new tons of gold to become 96.3 tons," he said in a press statement.

 He added that "despite the passage of Iraq in previous years, wars and challenges adversely affected the structure of economic, but the development plans contributed to a simple progress in the level of internal circulation of the national currency, and the result of this the launch of loans and advances to establish medium and small projects."

"Moving the stagnant market and activating the business and meeting the needs of the citizen and the provision of labor means moving the money within a deliberate plan that will benefit monetary policy and increase the cash surplus that the central bank should use to enhance the value of the national currency."




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