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Saleh: There is no problem with liquidity at all, and what happened in the American markets requires caution
Time: 08/08/2024 09:18:35 Read: 572 times
{Economic: Al-Furat News} The financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh, denied that there was a problem with cash liquidity in the Iraqi currency. Saleh said in a press statement,
“There is no problem with liquidity at all because it is covered by foreign currency,” indicating that
“the mechanism for obtaining cash liquidity is that oil sales are converted into US dollars, and
when the government needs dinars for internal exchange, oil sales are exchanged for dollars and go to a bank.” The monetary issue that is the central bank to give it currency.” He pointed out that
"the central bank, with the aim of maintaining market stability,
sells foreign currency to the market through the currency sale window and auction, to
withdraw liquidity a second time and
then repeat it again so that there is a natural growth in the exported currency."
As for the size of the monetary supply, Saleh explained,
“There has been an increase in liquidity within a year, as the issued currency has become more than 100 trillion dinars, after it was 80 trillion dinars,” stressing that
“these surges have no effect as long as they are covered by foreign currency.”
The financial advisor to the Prime Minister believes that the world's economic circles were surprised by sharp fluctuations and declines in the US stock market amid a wave of panic over fears about a possible recession in the largest economy in the world, and that
"these declines were built on a combination of local and global economic factors that led to weak investor confidence in the performance of... The American economy, and
if the situation continues for six continuous months, the recession will turn into a major depression that will hit all the world’s economies.” Saleh pointed out,
“The US Energy Information Administration previously announced that it expects average prices to reach about $89 per barrel for the rest of 2024,
but there is a gradual decline in global oil prices, which has begun to coincide with the decline in the value of financial assets in the American markets, especially the decline in oil.”
The signal is (Brent crude), which ranges at about $76 per barrel in futures contracts after it reached approximately $88 per barrel last June, which requires more caution and economic calculation.”
https://alforatnews.iq/news/صالح-لا-مشكلة-بالسيولة-اطلاقاً-وما-حدث-في-الأسواق-الامريكية-يستوجب-الحذر
Time: 08/08/2024 09:18:35 Read: 572 times
{Economic: Al-Furat News} The financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh, denied that there was a problem with cash liquidity in the Iraqi currency. Saleh said in a press statement,
“There is no problem with liquidity at all because it is covered by foreign currency,” indicating that
“the mechanism for obtaining cash liquidity is that oil sales are converted into US dollars, and
when the government needs dinars for internal exchange, oil sales are exchanged for dollars and go to a bank.” The monetary issue that is the central bank to give it currency.” He pointed out that
"the central bank, with the aim of maintaining market stability,
sells foreign currency to the market through the currency sale window and auction, to
withdraw liquidity a second time and
then repeat it again so that there is a natural growth in the exported currency."
As for the size of the monetary supply, Saleh explained,
“There has been an increase in liquidity within a year, as the issued currency has become more than 100 trillion dinars, after it was 80 trillion dinars,” stressing that
“these surges have no effect as long as they are covered by foreign currency.”
The financial advisor to the Prime Minister believes that the world's economic circles were surprised by sharp fluctuations and declines in the US stock market amid a wave of panic over fears about a possible recession in the largest economy in the world, and that
"these declines were built on a combination of local and global economic factors that led to weak investor confidence in the performance of... The American economy, and
if the situation continues for six continuous months, the recession will turn into a major depression that will hit all the world’s economies.” Saleh pointed out,
“The US Energy Information Administration previously announced that it expects average prices to reach about $89 per barrel for the rest of 2024,
but there is a gradual decline in global oil prices, which has begun to coincide with the decline in the value of financial assets in the American markets, especially the decline in oil.”
The signal is (Brent crude), which ranges at about $76 per barrel in futures contracts after it reached approximately $88 per barrel last June, which requires more caution and economic calculation.”
https://alforatnews.iq/news/صالح-لا-مشكلة-بالسيولة-اطلاقاً-وما-حدث-في-الأسواق-الامريكية-يستوجب-الحذر
