Oil Minister: Central Bank reserves exceed 50 billion dollars

Oil Minister: Central Bank reserves exceed 50 billion dollars


Date: 01/17/2016 13:27
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Information / BAGHDAD / ..
Oil Minister Adel Abdul-Mahdi, Sunday, owning a central bank cash reserve exceed the $ 50 million, indicating that the central bank conditions reassuring.
Said Abdul-Mahdi, in an article seen by Agency / information / that "the country's budget experiencing liquidity that crisis like many states, but the country's reasonable possibilities allow to ease the crisis, and these are some trends executable immediately, and there are other requires some action," noting that "The central bank is still reassuring the situation, despite the decline in the reserve but has reserves of more than 50 billion dollars."
Abdul-Mahdi said that "the reserve in mid-2003 was almost non-existent, and oil imports is less than 20% of what it is today, despite low prices, and foreign debt exceeds 120 billion dollars, and the interior at the highest levels, and imports plunging markets, although the bank reserves is not the property of the Government , but it represents a guarantee to move the economy, through the monetary instruments and exchange and interest rates, banks and secondary markets to help the government. "
The oil minister said that "inflation does not exceed 2% .. The debt is high, and Iraq has oil wealth, large reserves, natural resources, great investment opportunities, and these are all the temptations of an attractive, to lend to Iraq and give him the necessary facilities in different forms. Religion is not a defect or a shortage, it is economically, if they need to face in investment trends and possessed payment capabilities. Indeed, Iraq has always met its obligations when he was in the most difficult circumstances. "
Abdul-Mahdi said that "what exists today in the treasury, nevertheless Dafh- not more than it was in the Treasury at the beginning of 2015, although it managed to Iraq in crossing safely despite a lot of difficulties, and the war against" Daash "and the destruction of many of the facilities, including the refinery," Peggy ".
It is noteworthy that Iraq is witnessing a severe financial crisis after the fall in oil prices significantly large deficit in the balance of the year 2016, all this with the high costs of the war on terror for the Liberation of Albulad.anthy / 25 R.

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