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Al-Moussawi: invest a portion of the Central Bank's cash reserve will not affect the value of the dinar
Published: 12: 14 pm, February 17, 2013 by jamal
Baghdad
(IBA). Member of the Economic Committee MP Salman al-Musawi, the
investment of part of the cash reserves of the Central Bank in risk-free
investment projects did not constitute any future damage to the value
of the Iraqi dinar and the impact of the global economic shocks.
He
said in a statement cited by the independent press Association (IBA).
The Central Bank has a large cash reserve can invest part of it in less
risky investment projects contributing to the formation of an important
resource and returns to the Reserve Bank and the Treasury, said: the
survival of Iraq only supported on oil reserves and revenues is a major
threat to the national economy "
"The Central Bank law are not
allowed to invest a portion of the cash reserves that the fear of
withdrawal of a portion of this amount and invest in projects that lead
to reduced reserves and undermine confidence in the value of the Iraqi
dinar, adding: the withdrawal of part of the cash reserve will not
affect the value of the Iraqi dinar and confidence in the future."
"Dependence
on the dominant oil sector on other sectors in economic practice risky
oil and prices being dependent on world prices and therefore if there is
a significant reduction in price would affect the economy."
Al-Moussawi
said that "unilateral Iraq revenue and 95% dependent on oil revenues
and reserve is the subject of the threat and what the Iraq oil economy
income diversity effect for income-generating sectors such as
agriculture, tourism, trade, industry and investment, a fraction of the
cash reserves of the Central Bank and can provide significant revenue
for Iraq to add to the collection of taxes and fees".(End
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Published: 12: 14 pm, February 17, 2013 by jamal
Baghdad
(IBA). Member of the Economic Committee MP Salman al-Musawi, the
investment of part of the cash reserves of the Central Bank in risk-free
investment projects did not constitute any future damage to the value
of the Iraqi dinar and the impact of the global economic shocks.
He
said in a statement cited by the independent press Association (IBA).
The Central Bank has a large cash reserve can invest part of it in less
risky investment projects contributing to the formation of an important
resource and returns to the Reserve Bank and the Treasury, said: the
survival of Iraq only supported on oil reserves and revenues is a major
threat to the national economy "
"The Central Bank law are not
allowed to invest a portion of the cash reserves that the fear of
withdrawal of a portion of this amount and invest in projects that lead
to reduced reserves and undermine confidence in the value of the Iraqi
dinar, adding: the withdrawal of part of the cash reserve will not
affect the value of the Iraqi dinar and confidence in the future."
"Dependence
on the dominant oil sector on other sectors in economic practice risky
oil and prices being dependent on world prices and therefore if there is
a significant reduction in price would affect the economy."
Al-Moussawi
said that "unilateral Iraq revenue and 95% dependent on oil revenues
and reserve is the subject of the threat and what the Iraq oil economy
income diversity effect for income-generating sectors such as
agriculture, tourism, trade, industry and investment, a fraction of the
cash reserves of the Central Bank and can provide significant revenue
for Iraq to add to the collection of taxes and fees".(End
[You must be registered and logged in to see this link.]
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