Expert (time): monetary gold reserves over the currency's strength

– January 17, 2016

The upper threshold announce the recipient of the yellow metal the central bank is not a gran

BAGHDAD just Shaima

Said economist Abdul Hassan Shammari said the occupation of Iraq to the Centre 37 out of 100 countries possess reserves of gold gives a global force Iraqi cash currency and a means to facilitate access to loans from countries Alakhary.oukal Shammari (time) yesterday that (Iraq bought in 2014 a large amount of gold and therefore increased reserves stood at 37th place among 100 countries, which has reserves of gold in addition to the presence of large reserves of gold and hard currency has several benefits in the forefront they Aattiyan strength of monetary currency so increase its value internationally as well as those that reserve good is a way to facilitate the granting of loans Iraq from other countries because it can pay its debts shall be a priority among the other countries in the granting of the loan), explaining that he had (in the case of the availability of surplus money to Iraq, it will be able to support reserves of foreign exchange and gold by increasing this reserve). The World Gold Council has said that Iraq reserves of gold represents 4.6 percent of the reserves of foreign currency, adding that he is ranked 37 of these countries that have been included in the global report of the Central Bank reserves. The Council stated in its website by Statistics his last for the month of January 2016 that (Iraq's reserves of gold remained stable and did not change, reaching 89.9 tons Maimthel 4.6 percent of its reserves of foreign currency), pointing out that the (Iraq did not buy gold since April 2014 when he bought 15.16 tons). Meanwhile, the head of the largest Russian bank Sberbank banks Germann Gref said that the oil era coming to an end. He explained Greve during a discussion in a forum Gaidar held at Moscow's annual economic that (Stone Age ended not run out of stones and the same thing we can say about the oil age), probable (the continuation of the oil age for up to about 10 years, until the necessary infrastructure for the cars of electricity spread fully ). Griff and saw that (the future is bright for the information technology sector), alluding to the (importance of investing in science and industry sectors). In the meantime, world oil prices fell more than 6 percent, driving Brent global crude benchmark to retreat below $ 29 a barrel for the first time since February 2004 due to losses to China's stock market and the prospect of increased Iranian crude exports, which led to growing fears of continued oversupply for longer . After that the previous session ended higher for the first time in eight sessions landed contracts for Brent and US crude to new lows in the 12 years extended its losses since the beginning of the year to more than 20 percent in the worst two weeks of decline since the global financial crisis in 2008.

The amount of gold

On the other hand, he said that the upper threshold amount of gold recently received from the central bank to gilding the dome of the shrine of Imam Ali were not a grant, but the threshold purchase it from the Iraqi Central. The member of the Committee of gilding in the upper threshold Falah al-Sarraf said in a statement yesterday that (percent kilogram before yesterday's report went received threshold bought from the upper threshold of funds by the central bank, the only authorized to sell gold for being) .oavad provide the Central Bank 100 kg of pure gold for gilding the dome of the shrine of Imam Ali in a project for the upper threshold includes the restoration of stones and paint the dome of the old without compromising architectural in style. And ended the first phase of the project is the restoration of the dome neck of 2,500 stone of copper coated with pure gold, while the second phase, which began the day before yesterday at a rate of nine thousand brick and copper that are painted gold.