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Indicators of economic resilience and stability in the monetary system


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Indicators of economic resilience and stability in the monetary system

Post by rocky on Thu 06 Sep 2018, 5:41 am

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Indicators of economic resilience and stability in the monetary system
Central banks in the countries of the world mainly aim to achieve monetary and financial stability through its programs and strategy aimed at maintaining stability in the exchange of local currencies against other foreign currencies and the construction of foreign reserves sufficient in accordance with international standards issued by the International Monetary Fund and the assessment of banks based on other criteria Economic and political shocks in their countries, controlling stable rates of inflation and interest rates, implementing compliance regulations and rules, combating money laundering and financing terrorism. The Iraqi Central Bank's march over the last four years proved that it is progressing steadily to achieve the above objectives. This proves that Iraq has gone out of the monitoring and follow-up area to the regular follow-up area every two years, like other banks in the world according to FATF.
 Which we expect to be reflected in the efforts of the Central Bank and the Association of Banks and Banks to restore international banking relations with correspondent banks. 
And because of international political changes, most notably US sanctions imposed on Iran and Turkey. In order for the economic analysis to be accurate and non-radical for the reality of monetary stability in Iraq and the effects of the new shock (sanctions) expected on the exchange rate of the Iraqi dinar, which has been stable since 1/1/2018 and remains strong and stable despite international and domestic political shocks.
From an economic and analytical perspective of the state of stability in the exchange rate and from a neutral and transparent point of view, we note that the high independence of the Central Bank and the availability of foreign reserves at an average and for determining the adequacy to cover the cash mass in circulation and to cover imports according to the standards of the International Monetary Fund as the foreign reserve is fully insured and occupies Iraq ranks fourth in the Arab world and is currently about $ 58 billion and grows day after day in addition to the strength and recovery of the Iraqi dinar during the past seven months and deal with wisdom and responsibility and independence by the Central Bank will prevent from The international situation and the sanctions on neighboring countries were raised on the reality of monetary stability, which began to be achieved during the first half of this year, with the assurance that the central bank does not fund a deficit in the budget. On the contrary, there is currently a surplus in the budget due to high oil prices. This shock
And will be overcome and exceeded the economic and security shocks suffered by the Iraqi economy in previous years.

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    Current date/time is Sat 22 Sep 2018, 4:56 am