Central: High gold reserves in Iraq, helping to stabilize the exchange rate of the dinar

April 16, 2014 10:17

Central Bank of Iraq high reserves of pure gold to 90 tonnes, after the purchase of 60 tons during the past two months, and through contracts with international companies Stamping gold in order to diversify the means of public savings and activate the gold market deal. The central bank said in a press statement that "this is one of the tools of monetary policy to stabilize the exchange rate of the Iraqi dinar. According to the newspaper brotherhood

So said a member of the Finance Committee in the Iraqi Parliament Najeebeh Najib said that "the Iraqi Central Bank is the competent authority to put the monetary policy of the Iraqi economy, by diversifying trading means savings for the public," indicating that "the agreements and contracts concluded by the central bank with international companies Mint gold bullion is positive phase represents the right track for a strong economy. "

She explained that "the reserve grand gold in Iraqi banks represent the real guarantee for the Iraqi economy from any circumstance an emergency affects the country due to economic fluctuations." And demanded Najib Iraqi government to "increase the reserve of gold metal," pointing out that "the Iraqi government are obliged to diversify the Iraqi economy and ICON dependence on oil and gas, basic degree, so you must save gold to be the biggest supporter of the Iraqi economy. "

For his part, said economic expert Jacob teacher, said that "the case with the policy of great economic represented a reserve large gold pure in Iraqi banks is a positive phase, represents a line graph economically rising for the better," he said, adding that "high reserves pure gold during the last two months to make Iraq in the first third of the rankings private reserves, global central banks gold. "and added that" the entry of the World Gold to Iraq is to activate the gold market and the diversification of saving the country's economic, knowing that the gold Iraqi was not affected by the entry of gold the United Arab Emirates and Turkey in the local market. "said the teacher that "the policy of saving for the gold alloy is global economic policy followed by the more advanced countries, and that this policy gives enough strength to advance economically and commercially."


http://www.ahewar.org/news/s.news.asp?nid=1641079