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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Sudanese advisor: Foreign currency reserves are high, safe and at comfortable levels

    Rocky
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    Sudanese advisor: Foreign currency reserves are high, safe and at comfortable levels Empty Sudanese advisor: Foreign currency reserves are high, safe and at comfortable levels

    Post by Rocky Tue Apr 25, 2023 6:29 am

    Sudanese advisor: Foreign currency reserves are high, safe and at comfortable levels

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    Economy News - Baghdad
    The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Tuesday, that foreign currency reserves are high, safe and at comfortable levels, while indicating that the value of treasury transfers is currently estimated at about 46 trillion dinars.
     
    Saleh said, “The Central Bank currently holds, through secondary market operations, about 64 percent of the total internal public debt, which are government debt instruments in the form of bonds and treasury transfers (that is, they are government borrowing tools that were deducted by local banks, and they are the primary holder before discounting them with the authority.” cash), as banks, especially government ones, at different periods deducted their interest with the Central Bank and regained their liquidity, and they carry an annual interest ranging between 2-3 percent, and today they have become an integral part of the assets or assets in the balance sheet of the Central Bank of Iraq.
    And he added, "The value of treasury transfers in the possession of the monetary authority is estimated at about 46 trillion dinars currently," pointing out that "the foreign currency reserves of the Central Bank of Iraq are at very comfortable levels, which are the highest in the country's financial history, which are not less than balances (in foreign exchange and gold). ) between 110-115 billion dollars, and at the same time it constitutes a percentage (coverage) of the cash currency issued (and according to the current exchange rate) by about 130 percent, which is a high and safe coverage.
    And he continued, “Monetary policy, and by virtue of the fact that the Central Bank of Iraq is the government’s financial advisor, and it is the one who coordinates and consults with the government in accordance with its law to ensure consistency and harmony with the joints of financial policy and other economic policies, any decision taken by the monetary authority in accepting a discount or liquidation of any government debt instruments will be subject to There is no escape for accurate standard equations in applying monetary policy tools and their operational objectives, within the framework of managing the liquidity of the economy in a balanced manner with macroeconomic indicators, and in a manner consistent with the independence of the Central Bank of Iraq.


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