Iraqi cash reserves fall from 78 to $ 45 billion since 2013

Iraqi cash reserves fall from 78 to $ 45 billion since 2013

4/5/2017

Roudao - Erbil

organized by the Iraqi Ministry of Planning, a conference in Erbil, about the reconstruction of Iraq after the end of the war on the "Islamic State" Daesh, and the goal of the conference , which lasted for three days, to develop a long - term plan that includes the reconstruction of the devastated areas in Iraq, and achieve economic development in the years from 2018 until 2023.

in this context , he said a member of the economic Committee in the Iraqi Council of Representatives, Mahdi Al - Hafiz, network Roudao media, " the rights issue is clear, Vkordstan nation with a culture and the people and geography, and deserves all the rights granted to other peoples, but the dispute revolves around some political issues , Not about the concept of the right, that 's why I think that in the future it is necessary to settle all these issues to ensure that the common rights of all parties in Iraq. "

Hafiz added that " the success of the five - year plan depends on oil revenues, because these revenues is the main supplier of Iraq , approximately 95% of the state budget, which is why Iraq is in abnormal condition, which need a lot of work for the economy to be balanced, so let to promote sectors of agriculture, industry and others. "

With regard to the required amounts to the plan, he confirmed a member of the Economic Committee in the Iraqi Council of Representatives, that "will be disclosed, where he is not prepared yet, and the amount will be after announcing the plan."

On the Kurdistan Region 's share of the reserve, Hafiz said that " the Iraqi reserves dedicated to the State of Iraq as a whole, and the region is part of the state said, and thus benefit allocations by various facilities, and should Baghdad and Erbil cooperate to develop a plan."

For his part , director of financial operations at the Central Bank of Iraq, Mahmoud Dagher, to Roudao, the right of the Kurdistan Region to get its share of the central bank spoke, said: "For the Iraqi reserves, Vlaitmin everyone, where everyone who owns the Iraqi currency has a share of foreign reserves in the Central Bank of Iraq, whether resident in or outside Iraq, dear brothers and beloved in Kurdistan have allocated what they deserve to own a share of Iraqi funds. "

Pointing out that "no one can take from the reserves of Iraq because it is in international banks, but through currency auction window, banks in Kurdistan as do banks in Baghdad, auction intervention to get foreign trade Kurdistan financing."

He added: "For the Iraqi government, the remittances exported by the Ministry of Finance in favor of the banks of the secondary market discount, this money belongs to all Iraqis, which is the issue of fiscal policy, and Iraq to the north and south has a contribution, and that precautions exist abroad to maintain the stability of the currency."

Dagher added that " the Iraqi reserve currently exceeds $ 45 billion, distributed over different assets, and in reputable banks in the world, and until 2013 was the reserve of approximately 77 to $ 78 billion, but lower oil prices and the war on Daesh make a great demand for it, and therefore diminished the size of the reserve, and the result, his role is to maintain the purchasing power, and the stability of the balance of payments of the national currency. "

The increased director of financial operations at the Central Bank of Iraq by saying: "Here we are not going to talk about the budget . In this context , quarreled politicians among them the House of Representatives, but we Vmahtna version of the Iraqi dinar and maintain its strength by contributing to foreign Balaanaat, and all oil countries dwindled has reserves because it defends its currency. "

The governor of Karbala, Aqeel Turaihi, talk to Roudao , saying: "As the city of Karbala , a holy and receives large crowds of visitors throughout the year and in many seasons, they can regulate this issue through cooperation locally, as well as with neighboring provinces and the federal government, but unfortunately have not been organized a way that could generate good imports, and I think that the religious tourism and subsequent other types of Alsaahat, considering that there are archaeological sites and centers of wellness and others, this subject, needs to organize, and let the Supreme Commission for coordination between the provinces , headed by the Prime Minister to form a committee Senior management of this file and organize and activate. "

And about the size of the province of Karbala revenue, Turaihi said that "unfortunately , there is no clear revenue and standardized for the province, and we are currently seeking to maximize these resources, and I call to allocate imports each province have, and qualify all the same province , in the light of that."

Noting that "if it got the regulatory process, I think that there are many countries that the economy is mainly on tourism, how Karbala province , which is not without a week of visiting mass to her, where he comes every year about 5 million foreign passengers, while imports Vtanaj minutes to study, Let us have to study this issue through specialized companies in this area, so considering this topic and develop programs and solutions. "

With regard to the referendum independence of the Kurdistan Region, the governor of Karbala , said that "this issue depends on the constitution, and when there are elements not the Kurdistan Region is waiting for any other party, but the Constitution is governed by this topic, the relations of the province of Karbala, and my relationships personally, good with our brothers in the region Kurdistan, and there is the possibility of fruitful cooperation between us. "

While confirmed Undersecretary of the Ministry of Construction and Housing and Municipalities, Iestbrq Ibrahim, during Hath to Roudao, that " the damage and losses caused by the organization Daesh in a number of liberated almost up to 80% or more in some of them, especially the city of Ramadi, there is damage to infrastructure, networks water, sanitation, roads, and bridges. "

Ibrahim added that "the Ministry of Construction and Housing and Municipalities has prepared technical statements to determine the extent of the damage, and estimate the necessary repair cost, already embarked on a number of these liberated cities in order to restore services to them, so that IDPs and displaced persons to return to their areas."

He pointed out that "reconstruction cost you need accurate calculations, some of the liberated cities destroyed about 80% of its infrastructure, especially water and sanitation and bridges services, and most cities have been significantly affected, but I think the city of Ramadi is the hardest hit so far by the operations military to liberate them from organizing Daesh. "

On the description of the right side of Mosul , " the second of Aleppo," said Undersecretary of the Ministry of Construction and Housing and Municipalities, said that "what has not been seen on the ground, it can not be losses estimate accurately in the right side of Mosul, and we hope that liberated the city of Mosul , the lowest possible damage" .

As for the extent of Iraq 's need for foreign aid, Ibrahim explained that "the government 's priorities in the reconstruction, especially the services that touches the daily lives of the citizens, because the return of such services to normal help citizens to return to their homes, and these services are in the water, sanitation, electricity, roads and others. "

On the possibility of providing assistance to Iraq, he stressed that the current situation of Iraq is no secret to one . Most investment projects in the state plan stalled because of the financial and economic crisis in the country, and there are attempts by the government to borrow from international funds and funds of the United Nations and international organizations, as well as request grants " .

On the issue of the government 's reconstruction of Sinjar city , which suffered massive destruction, Ibrahim stressed that the "Sinjar city destroyed already devastated, the ministry has embarked on self - its potential to lift the rubble from the streets and buildings, and restore some official circles to work, but they need effort e Dessie technician for a large return to what I was previously. "

With regard to the total cost of the reconstruction of the devastated areas in Iraq, said Undersecretary of the Ministry of Construction and Housing and municipalities, that" there are many estimates, there are those who believe that the cost would amount to $ 70 billion or more or less, I am an engineer, I technically can not be an accurate estimate without the presence of statements of art. "

As for the location of the Kurdistan region of the five - year plan , which will cost 350 billion to $ 400 billion, Ibrahim stressed that" the themes that are currently being developed in the five - year plan, It is according to the proportion of the population and geographical location, and the Kurdistan region is one of Z Of the plan Like the rest of the same areas, and proof of this is the establishment of the conference here in Erbil , as an indication that the region is an integral part of Iraq. "

The United Nations data indicate that the reconstruction of the areas controlled by the Daesh needs to be $ 35 billion, and the reconstruction of Mosul alone requires $ 14 billion, while the Kurdistan Regional Government calls for inclusion areas of the region that was restored from Daesh plan.

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plus 81 metric tons of gold in their reserves