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Economist for / Nina / : The Central Bank of Iraq has three reserves to serve the requirements of monetary stability and development
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Baghdad /Nina/ Economist Jalil Al-Lami confirmed that the Central Bank of Iraq has three reserves to serve the requirements of monetary stability and development. He told the Iraqi National News Agency (
The Central Bank is responsible for managing the country's foreign monetary reserves, where the Central Bank within the framework of this task influences credit by controlling the movement of capital flow in and out and providing foreign exchange to serve the requirements of monetary stability and economic development.
Al-Lami added: This reserve consists of: Foreign exchange securities: represented in current and fixed deposits in the main international currencies and government bonds held by the country residing in foreign currencies for the benefit of the country over other countries, which is estimated at more than (85) billion dollars. Gold: It is the state reserve, which is in the form of bullion or coins in the coffers of the International Monetary Fund. He: The third reserve is the rights of the private draw: it is the new reserve and is used to face the deficit in the traditional reserves of the state and the rights of the withdrawal are granted to each of the member states of the International Monetary Fund. So that the share of the state is proportional to the size of that country in the International Monetary Fund.
These rights are used to settle payments between IMF member states. Central banks, including Iraq, seek to buy quantities of gold from time to time. The latest of which was Iraq's purchase of a new amount of gold with approximately (34) tons, raising Iraq's balance to (134.4) and thus achieving an increase of (35%) on the Iraqi treasury, which made its classification become the fourth Arab and thirty-third globally, and this increase is within the framework of the Central Bank's strategy to manage its assets in order to achieve the highest levels of stability and ability to face local and international economic changes.
Gold Promise: One of the most important assets held by central banks and international financial institutions. And a refuge from in conditions of uncertainty. Because of its international acceptability.
The central bank announced that foreign reserves had risen to more than 85 billion US dollars.
The bank said in a statement that its foreign reserves reached more than 85 billion US dollars, the highest level achieved by the central bank since 2003.
He added that gold reserves also exceeded (130.4) tons worth (7) billion dollars, to reach Iraq to the thirtieth place in the world and the fourth in the Arab world.
The Central Bank is responsible for managing the country's foreign monetary reserves, where the Central Bank within the framework of this task influences credit by controlling the movement of capital flow in and out and providing foreign exchange to serve the requirements of monetary stability and economic development.
Al-Lami added: This reserve consists of: Foreign exchange securities: represented in current and fixed deposits in the main international currencies and government bonds held by the country residing in foreign currencies for the benefit of the country over other countries, which is estimated at more than (85) billion dollars. Gold: It is the state reserve, which is in the form of bullion or coins in the coffers of the International Monetary Fund. He: The third reserve is the rights of the private draw: it is the new reserve and is used to face the deficit in the traditional reserves of the state and the rights of the withdrawal are granted to each of the member states of the International Monetary Fund. So that the share of the state is proportional to the size of that country in the International Monetary Fund.
These rights are used to settle payments between IMF member states. Central banks, including Iraq, seek to buy quantities of gold from time to time. The latest of which was Iraq's purchase of a new amount of gold with approximately (34) tons, raising Iraq's balance to (134.4) and thus achieving an increase of (35%) on the Iraqi treasury, which made its classification become the fourth Arab and thirty-third globally, and this increase is within the framework of the Central Bank's strategy to manage its assets in order to achieve the highest levels of stability and ability to face local and international economic changes.
Gold Promise: One of the most important assets held by central banks and international financial institutions. And a refuge from in conditions of uncertainty. Because of its international acceptability.
The central bank announced that foreign reserves had risen to more than 85 billion US dollars.
The bank said in a statement that its foreign reserves reached more than 85 billion US dollars, the highest level achieved by the central bank since 2003.
He added that gold reserves also exceeded (130.4) tons worth (7) billion dollars, to reach Iraq to the thirtieth place in the world and the fourth in the Arab world.
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