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Antoine: I do not fear for the balance of the reserve at the central bank
August 4 2015 20:07
BAGHDAD
Economic expert on behalf of Antoine said, "There is no fear of the low reserve balance of the central bank."
he said Antoine "The decline in central bank reserves does not affect the country's economy, as the balance is to support the Iraqi dinar, which retains its value and powered by the Central Bank reserves in gold and the dollar and currency rare, there is no fear of decline in reserve, as it was supposed to use the money in a time of need for the purpose of advancing the process of development and the elimination of unemployment, poverty and the provision of infrastructure services. "
He added, "When you drop the central bank balance, that did not go down the drain in the absurdity of occupancy, as when Its income in the financing of some government projects, and loans for some banks to contribute to the development process there is no fear him. When criticism comes out the other hand there are services and projects. "
said Antoine "I do not fear the Iraqi reserve because there are oil reserves and a large invader is growing with the passage of time and its value increases with the rise in oil prices. "
The parliamentary Finance Committee announced last Sunday, for the low bank balance of about $ 10 billion.
The committee member said Ahmed al-Haj that "our observations that Iraq will get $ 150 million a day, due to the sale of oil, but the auction currency increased two-fold from that amount where there are more than a half or double that amount raised in the auction, "he said." This poses a threat to the Iraqi economy, as it has to be kept in hard currency. "
He pointed Haj that "the central bank balance dropped from 2014 - 2015 about $ 10 billion, "pointing out that" this very serious matter. "
The Federal Supreme Court, announced on the sixth of July, the unconstitutionality of several articles in the budget of 2015 law, including Article [50], the judge to "bind Central Bank establishes its sales of hard currency [the dollar] in its daily auction ceiling does not exceed $ 75 million a day. "
with the exception of Governor of the Central Bank and the Agency on the Keywords, the court's decision as "came in accordance with the Constitution and the law of the central bank, which is a great importance because of its impact on promote and support the independence of the Bank and remove him from influencing the policies and decisions. "
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August 4 2015 20:07
BAGHDAD
Economic expert on behalf of Antoine said, "There is no fear of the low reserve balance of the central bank."
he said Antoine "The decline in central bank reserves does not affect the country's economy, as the balance is to support the Iraqi dinar, which retains its value and powered by the Central Bank reserves in gold and the dollar and currency rare, there is no fear of decline in reserve, as it was supposed to use the money in a time of need for the purpose of advancing the process of development and the elimination of unemployment, poverty and the provision of infrastructure services. "
He added, "When you drop the central bank balance, that did not go down the drain in the absurdity of occupancy, as when Its income in the financing of some government projects, and loans for some banks to contribute to the development process there is no fear him. When criticism comes out the other hand there are services and projects. "
said Antoine "I do not fear the Iraqi reserve because there are oil reserves and a large invader is growing with the passage of time and its value increases with the rise in oil prices. "
The parliamentary Finance Committee announced last Sunday, for the low bank balance of about $ 10 billion.
The committee member said Ahmed al-Haj that "our observations that Iraq will get $ 150 million a day, due to the sale of oil, but the auction currency increased two-fold from that amount where there are more than a half or double that amount raised in the auction, "he said." This poses a threat to the Iraqi economy, as it has to be kept in hard currency. "
He pointed Haj that "the central bank balance dropped from 2014 - 2015 about $ 10 billion, "pointing out that" this very serious matter. "
The Federal Supreme Court, announced on the sixth of July, the unconstitutionality of several articles in the budget of 2015 law, including Article [50], the judge to "bind Central Bank establishes its sales of hard currency [the dollar] in its daily auction ceiling does not exceed $ 75 million a day. "
with the exception of Governor of the Central Bank and the Agency on the Keywords, the court's decision as "came in accordance with the Constitution and the law of the central bank, which is a great importance because of its impact on promote and support the independence of the Bank and remove him from influencing the policies and decisions. "
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