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Central Bank: foreign currency reserves rose 3 billion dollars this year

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rocky
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Central Bank: foreign currency reserves rose 3 billion dollars this year

Post by rocky on Tue 10 Oct 2017, 4:34 am

Central Bank: foreign currency reserves rose 3 billion dollars this year






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Economy News Baghdad:
The governor of the Central Bank, Ali Alalak, that the cash reserve of foreign currency increased 3 billion dollars during the current year.
Al-Alak said in an interview published by the newspaper "Sabah" government, and viewed by "Economy News", "The central bank reserves now 48 billion and the previous year fell to 45 billion," noting that "the level of inflation and reserves are convenient for Iraq."
He added that "the launch of bonds may have a positive impact on the reserves of the Central Bank as the amounts received in foreign currency, and if it does not have a positive impact does not have a negative impact, because the dollar bonds against the Ministry of Finance transferred to the dinar by the Central Bank The situation is neutral, and there is no negative impact, but positive, as it is a strengthening of the reserves of the Central, which is the agent of the government and manages such operations.
"The decision to launch the bonds is not made by the government through the public budget because it is not launched only by law, and there are positive indicators in the case of the need to issue such bonds, and there is a successful experiment if it is decided in the budget for 2018 there will be foreign bonds."
Al-Alak pointed out that "recourse to external financing is one of the options to cover the deficit, because the size of internal domestic debt reached high levels difficult to expand, because that affects the liquidity of banks that buy part of the remittances of the treasury."
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