Economist warns of liquidating more Iraqi cash reserve

Economist warns of liquidating more Iraqi cash reserve


76 views View Last Updated: Sunday, April 23, 2017 


Economic analyst warned haven secretary of the "monetization of more amounts deposited with the central bank's cash reserve.".

He expected the secretary in a press statement "near passing Iraq challenges that led to the financial and economic crisis," stressing "the need to implement good economic plans and rely on investment to stimulate the generating sectors of income and curb unemployment and being able to repay international loans without prejudice to the cash reserve.".

The secretary that "the liquidation of part of the cash reserves to meet the budget deficit has negative consequences for the national currency exchange and wasted the rights of future generations as well as entering the country in economic, political and social chaos are not commensurate with the weight of Iraq and its cultural and global view of the Echtsenh of oil reserves exceed 150 billion barrel, "he said, adding that" the amount of cash reserves at the central bank, according to the Finance Committee Naabah slightly more than $ 40 billion after it was approaching $ 59 billion before the drop in oil prices in 2014 and to enter Iraq in the war with terrorist Daesh gangs and expelled from the areas of broker In addition to the nearly 4 million displaced people relief. "

He added that "Iraq and by concrete indicators, nearing the completion of a brilliant victory on the terrorist challenge and expel gangs Daesh from its territory to start a new page which closes the page continued attrition of the budget to sustain the fighting and edit its towns and villages, and the page opens reconstruction and the provision of services and investment in the stalled sectors such as industry, agriculture, transport, tourism and other which will drive the economy and profits, and widely available provide new job opportunities erase part of the poverty rates that have increased over the past few years. "

He said the secretary that "Iraq when he was forced to borrow from the International Monetary Fund after raising its level of credit, it deliberately to implement plans enable him to pay off debts and benefits in due dates, and within these plans to grant loans of various productive sectors and pay off the debts owed by the government by farmers and contractors and to enable the sectors to expand and diversify production lines to provide new job opportunities as well as rationalization of expenditures and reducing high salaries and increasing taxes that do not affect the poor segments to enable the government to provide the necessary services. "

He called on the government to "commitment to supporting the economy and development plans and provide job opportunities for the unemployed and the fight against corruption and to take advantage of the possibilities of Iraq's agricultural, industrial and tourism and seize the opportunities of victory over terrorism to achieve security and stability and restore the reserve Alnkadialy previous reign gradually in conjunction with the stability of oil prices at $ 50 and the rush of the international community to help Iraq in its war against terrorism and aid the displaced and reconstruction of liberated cities "./

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Great article. 

sassy wrote:Great article. 

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