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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    MPs and experts: Beyond the financial crisis and put the currency reserves reassuring

    Rocky
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    • Post n°1

    MPs and experts: Beyond the financial crisis and put the currency reserves reassuring Empty MPs and experts: Beyond the financial crisis and put the currency reserves reassuring

    Post by Rocky Mon 06 Feb 2017, 2:13 am

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    MPs and experts: Beyond the financial crisis and put the currency reserves reassuring


     Baghdad / peace Zidane 

     Assured specialists in money affairs, yesterday, put the cash reserves of the Central Bank , even if reduced to the range of 30 billion dollars. In the meantime, the Parliamentary Finance Committee confirmed the existence of irregularities in the auction currency which is managed by the central bank, warning of the depletion of reserves. 
    The MP Abdul Karim Abtan, a member of the Parliamentary Integrity Committee, said that " the Integrity Committee summoned the governor of the central bank and talked to him about the bank 's reserves of foreign currency." He warned that " the central bank will announce the bankruptcy of the foreign reserves due to frequent currency and selling of poor planning and improvisation in decision - making and not to anticipate economic variables." 
    In a related context, said MP Ahmad Hama, Rapporteur of the Finance Committee, (range), " The cash reserves of foreign central bank is difficult to reach the bankruptcy stage and is now within the international standards," he said . "If you arrived in the cash reserve of $ 30 billion is within the normal, because the cash reserve should cover imports for six months. " 
    The Governor of the Central Bank revealed lend 20 trillion dinars, since 2014 and until 2016, to help bridge the fiscal deficit which stood at $ 50 billion over that time period. 
    He said the decision of the Finance Committee that "we have a lot of reservations on the monetary policy of the Central Bank, most notably the continuing auction of foreign currency, which drained a lot of cash reserves, demanding to intervene to stop it ." MP also pointed to "the central bank lending to the government , although the Bank Act prohibits, in Article 26, lending to the government , either directly or indirectly." 
    The governor of the central bank on the Keywords stressed that " the central bank reserves were reported at the end of 2014 , more than $ 66 billion in 2015 and dropped to about $ 53 billion in 2016 reached nearly $ 45 billion." 
    In the same context, MP Najiba Najib, a member of the Committee on Economy and Investment, said that " the bankruptcy of foreign cash reserves is unlikely at the moment because of the improvement in the economy and overcome the financial crisis gradually after the increase in oil exports and high oil prices and the global market." 
    Najib revealed (range) that " the foreign exchange reserves of $ 45 billion in addition to the presence of 75 tonnes of gold." 
    Considered a member of the Committee of the economy that "monetary policy of the Central Bank of successful and it has saved Iraq in the last two years , which have witnessed a fall in oil prices to $ 20 , which the state helped to cover the salaries of employees." 
    She said Kurdish MP "There are many international experts in finance and economics affairs provide advice to the government and Snktef fruit during the coming period." 
    Turn Hammam Chandler, financial expert of the Iraqi's said (range), " The bankruptcy of the cash reserve is just speculation because the cash reserve than international standards is still the country gets from the hard currency through the sale of oil , " noting that " the talk about the bankruptcy of the reserve affects the reputation of the economy. " 
    Chandler noted that "currency auction contributed to the depletion of cash reserves and must take tough measures because banks today achieved astronomical profits on the way," but he also said that " the central bank will take measures to regulate the auction of the currency." 
    He said the financial expert that "Treasury bonds launched by the Central Bank is to support the military expenditures and that the coming days will be reduced where these expenses after ending regulation Daesh."
     
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