Central bank: our reserves of the best reserves in the world and covers the currency and a half times

Sunday January 18, 2015 15:29


Alsumaria News / Baghdad
The Central Bank of Iraq, Sunday, that the bank reserves is one of the best reserves in the world, and while he noted covers currency and a half times, said the financial crisis in Iraq is resolved in the structuring of the economy and diversify sources.

The governor of the bank on the Keywords in an interview for a number of media, including "Alsumaria News", "The Bank retains the highest rates of good reserves of hard currency in the world compared to the money supply," adding that "these reserves still cover the money supply and a half times ".


He Keywords that "reserves are changing on a daily basis depending on oil exports as the dollar comes from these exports, in addition to coverage of imports which are variable elements," noting that "what Iraq faces today from a financial crisis resolved through utensils solutions to internal and external such as loans, while be long-term solutions through a review of the restructuring of the economy through the budget preparation and rationalize spending and diversification of income sources and attract foreign capital. "

"The financial institutions that can support can not plug in the budget that are at high levels."

The Iraqi Central Bank announced in October 2013 for the arrival of the size of its reserves of hard currency to 76 billion and $ 500 million, noting that "it is the highest rate of the Bank of the currency in the history of Iraq.

Central Bank of Iraq and held daily for the sale and purchase of foreign currencies with the participation of Iraqi banks sessions, with the exception of public holidays in which the Bank stops these auctions, sales and be either in cash or in the form of remittances sold abroad in exchange for a certain commission.


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Central Bank announces having a financial reserve equivalent to one and half times the weakness of the currency bloc

01/18/2015 16:14

Awan / Baghdad

Iraqi Central Bank announced, Sunday, that the financial reserves of Iraq is equivalent to one and half times the weakness of the money supply, they returned it was "best rates" in the countries of the world, as he emphasized that Iraqi financial institutions are "unable" to the fiscal deficit coverage, stressed the need to re-examine the structure of Budget and tunnels and diversify sources of income and achieve investment more broadly to address the decline in oil prices.

The governor of the Central Bank of Iraq on the Keywords in an interview for a number of media, including "time", on the sidelines of the third internal financial control conference held by the General Secretariat of the Council of Ministers, today, in the Rashid Hotel in central Baghdad, said that "what brought Iraq today is a result of reduced oil imports could be addressed at two levels. "

The relationship, that "the first level can be in real-time processing through what could be earned by the state from internal or external loans," noting that "the second level lies in the long-term treatments through to reconsider the structure of the economy and financial management of the country and diversify sources of income."

Keywords and continued that "all Iraqi financial institutions will not be able to bridge the fiscal deficit in the country when it is in significant levels," stressing that "this calls for a reconsideration of the structure of the budget and structural tunnels and diversify sources of income and achieve invest more broadly, the first alternative and better in order to attract private capital and operation of labor. "

Keywords and continued that "the reserves of the Central Bank of the money variable number probably on a daily basis, according to oil exports and cover changing imports," pointing out that "the Central Bank maintains reserves at a rate of one of the very best in the world rates compared monetary mass in circulation and this is the force that is calculated by the Reserve" .

Keywords and pointed out that "Iraq is still a reserve covers the money supply more than one and a half times in Iraq, a high percentage compared to the coverage in the world, ranging from 70 to 100%."

http://awaniq.com/ar/news/15114/البنك-المركزي-يعلن-امتلاكه-احتياط-م