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Economic center warns of the consequences of the use of central bank reserves in local projects
May 7, 2013, 3:22 pm
Head of the Media Center warned economic Dergham Mohammed Ali, Tuesday, invest part of the central bank reserves of hard currency in local projects within the country, because it is a major risk to the economic situation in the country.
Mr Mohamed Ali said in an interview transferred reporter, "news agency Iraqis", that: "The foreign reserves of the currency at the Central Bank is an asset for an emergency on the one hand and also cover the local currency of the other hand and the lid is a reliable international and this is what makes maintaining and developing the necessary", stressing "not to use it only when absolutely necessary, ie to lend to the government at the time of the fiscal deficit in the state budget salt of Finance."
He added: "You can invest parts of it within investment portfolios are almost guaranteed with central banks, European, either incorporated in the local projects are longer risk a major economic fact that this process is not the prerogative of the Central Bank of Iraq," noting that "the return on investment in European banks is to develop the reserves and not to spend within the local budgets, except in cases necessary. "
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May 7, 2013, 3:22 pm
Head of the Media Center warned economic Dergham Mohammed Ali, Tuesday, invest part of the central bank reserves of hard currency in local projects within the country, because it is a major risk to the economic situation in the country.
Mr Mohamed Ali said in an interview transferred reporter, "news agency Iraqis", that: "The foreign reserves of the currency at the Central Bank is an asset for an emergency on the one hand and also cover the local currency of the other hand and the lid is a reliable international and this is what makes maintaining and developing the necessary", stressing "not to use it only when absolutely necessary, ie to lend to the government at the time of the fiscal deficit in the state budget salt of Finance."
He added: "You can invest parts of it within investment portfolios are almost guaranteed with central banks, European, either incorporated in the local projects are longer risk a major economic fact that this process is not the prerogative of the Central Bank of Iraq," noting that "the return on investment in European banks is to develop the reserves and not to spend within the local budgets, except in cases necessary. "
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