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Central Bank: oil reserves the world's best reserves currency covers one and a half times
Sunday 18 January 2015
Alsumaria news/Baghdad
The Central Bank of Iraq, said Sunday that the Reserve Bank is one of the best reserves in the world, while he covers the currency by half, between the financial crisis afflicting Iraq are resolved to restructure the economy and diversification of sources.
The Bank Governor said the relationship of the number of media including sumaria news "," the World Bank maintains the largest rates of good reserves of hard currency in the world compared to the money supply in circulation ", noting that" these reserves still cover the money supply by time and a half ".
He said that "reserves change daily depending on oil exports as the dollar comes from these exports, in addition to the coverage of imports that are variable elements", stating that "Iraq today faces a financial crisis resolved through topical solutions, such as internal and external loans, while long-term solutions by reviewing the structure of the economy through the budgeting and expenditure rationalization and diversification of income sources and attracting foreign capital."
"The financial institutions which could support the budget deficit cannot be high levels."
The Central Bank announced in October 2013 arrival size hard currency reserves of 76 billion and $ 500 million, indicating that "this is the highest rate of this currency in the history of Iraq.
CBI convenes meetings daily to buy and sell foreign currency with the participation of Iraqi banks, with the exception of public holidays where the Bank auctions, sales are either in cash or in the form of money orders sold to a certain fee.
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Sunday 18 January 2015
Alsumaria news/Baghdad
The Central Bank of Iraq, said Sunday that the Reserve Bank is one of the best reserves in the world, while he covers the currency by half, between the financial crisis afflicting Iraq are resolved to restructure the economy and diversification of sources.
The Bank Governor said the relationship of the number of media including sumaria news "," the World Bank maintains the largest rates of good reserves of hard currency in the world compared to the money supply in circulation ", noting that" these reserves still cover the money supply by time and a half ".
He said that "reserves change daily depending on oil exports as the dollar comes from these exports, in addition to the coverage of imports that are variable elements", stating that "Iraq today faces a financial crisis resolved through topical solutions, such as internal and external loans, while long-term solutions by reviewing the structure of the economy through the budgeting and expenditure rationalization and diversification of income sources and attracting foreign capital."
"The financial institutions which could support the budget deficit cannot be high levels."
The Central Bank announced in October 2013 arrival size hard currency reserves of 76 billion and $ 500 million, indicating that "this is the highest rate of this currency in the history of Iraq.
CBI convenes meetings daily to buy and sell foreign currency with the participation of Iraqi banks, with the exception of public holidays where the Bank auctions, sales are either in cash or in the form of money orders sold to a certain fee.
[You must be registered and logged in to see this link.]
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