Parliamentary Economy: Resorting to the central reserve will not affect the exchange rate of the dinar
12:11 - 3/29/2020
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Member of the Economic and Investment Committee, MP Nada Shaker Jawdat, affirmed on Sunday that [You must be registered and logged in to see this link.] resort to withdraw funds from the central bank reserves is a natural right and that it will not affect the Iraqi dinar exchange rate because it is backed by a good cover of gold and a large oil reserve, denying the government's feet To print out the paper currency.
Jawdat said in a statement to the "information", that "all the countries of the world suffer from a financial crisis, especially after the outbreak of the Corona pandemic, a decrease in oil prices and the stopping of investments, factories and international trade, and that [You must be registered and logged in to see this link.] is the largest affected in this regard", indicating that "most of the countries of the world resorted to borrowing from Its financial reserves.
She added that "the government has the right to borrow money from the central bank reserves to fill its financial deficit, just like the rest of the world." She explained that "the Iraqi government will resort to external and internal borrowing, including borrowing from the cash reserve in the Iraqi Central Bank."
Jawdat pointed out that "borrowing from the cash reserve will not affect the Iraqi dinar exchange rate because it is backed by a large reserve of gold and oil reserves," denying "the rumors raised about the government printing the paper currency to pay salaries." Ended in / 25 pm