Central Bank: confirms Iraq's possession of fifth gold reserves in the world

Central Bank: confirms Iraq's possession of fifth gold reserves in the world


 Baghdad / Zahraa Al-Jassem

Said economist Ahmed Bureihi, Iraq 's possession of fifth reserve gold in the world, is a good and useful, noting with the fact that the gold paragraph of the international central reserves led by hard currency, the Central Bank of Iraq can in any moment to turn gold into foreign currency used in international transactions or re - invested international market or also used to repay debt.
The Central Bank of Iraq announced in 07/16/2017, the bank gold reserves of 90 tons , which occupies a world class high, the total gold reserves in the Bank of 90 tonnes and thus which occupies this thirty - seventh place in the world and the seventh Arab world, noting that reserves Iraqi Central Bank of gold in 2012 was 30 tons only, but it arrived three times now, at the time of the world gold Council announced the world 's reserves of gold rise in the month of February, noting that Iraq maintained the fifth Arab of the world 's reserves rank.
Says economist Ahmed Rehn said in an interview (range), the central bank intended to declare that owned his reserves sufficient, but he also: On the other hand, that the reserve , which is said when talking about the central bank called international reserves, and the use of the term cash reserves expression wrong, adding: that international reserves consist of two paragraphs, the first is the reserves of foreign currency, and the second and other reserves including gold, and when added reserves of foreign currency with gold called international reserves, so these reserves now are sufficient Iraqi Central Bank Compared with other countries and other central banks, and this is what the Central Bank of Iraq , said in his statement on Iraq 's possession ranked fifth of the Arab world 's reserves.
The governor of the central bank on the Keywords, announced in 05/11/2017, an increase in hard foreign currency than it was in the year 2016 reserves, stressing rising to $ 49 billion.
Continues to Bureihi saying: When the central bank says the reserve of gold is now 90 tons, this means that a small paragraph of good reserves, because usually gold in central banks is considered a small paragraph of reserves, Msttrda: Yet our universe we occupy the fifth place of the world 's reserves of gold , is considered to be beneficial, especially since gold reserves could be Thouliha to anything else, as the central bank can in any moment to turn it into a foreign currency used in international transactions or re - invested the international market, which is certainly a good confounded , because gold means keeping value and central can a N transforms this gold , which has a foreign currency and uses this currency for the purposes of whether they want to finance foreign trade or to employ the amount in the international financial market or to repay debt.
He adds, that the reserve of gold downright is a good stock at the central bank, and we can also benefit from it greatly to the confidence of the world in gold, but the central bank reserves remain primarily the foreign currency, adding: On the other hand, the central bank 's reserves of foreign currency is not a little, especially since the central said recently that the reserves of foreign currency is sufficient, therefore, according to the central concerns of the international reserves of gold and foreign currency is sufficient and good, making Iraq 's position in front of the international financial organizations are well assured and at the same time.
He said the World Gold Council statistics published on his last Saturday that Iraq maintained the 37th place worldwide out of 100 countries listed in the international financial statistics for global reserves of gold during the month of February of this year 2017, pointing out that Iraq came in the fifth Arab rank after all from Saudi Arabia, Lebanon, Algeria and Libya, and between Iraq 's gold reserves remained constant , as recorded 89.8 tonnes, representing 7.0 from the rest of other currencies, noting that the last purchase of Iraq gold was in the month of April in 2014 where 15.16 tons bought.
According to the Council, that the world 's gold reserves rose for the month of February by 11 tonnes for the month of January to reach 33 thousand and 259 tons, while the United States ranked first globally in terms of these reserves , which amounted to 8.133.5, followed by Germany with 3.377 tons, and it decided the central bank in early 2014 , seek a variety of alloys of pure gold ranging weights between 50 g and 1000 g to sell to traders in gold, investors and segments of society wishing to do so dinars Alaraca.umajls World gold is an international organization headquartered in the British capital London, along with 6 branches in both New York and Mumb J, Shanghai, Beijing, Tokyo and Singapore, the Council aims to develop the global gold industry market and works with international organizations to stimulate demand and develop innovative uses of gold and take new products to the market, as the Council provides a comprehensive analysis to give decision - makers information on the demand for gold factors.


[You must be registered and logged in to see this link.]