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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Financial warn against the use of central bank reserves and they describe with generations

    Hkp1
    Hkp1
    Hkp1
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    Posts : 3118
    Join date : 2012-12-19
    • Post n°1

    Financial warn against the use of central bank reserves and they describe with generations Empty Financial warn against the use of central bank reserves and they describe with generations

    Post by Hkp1 Thu May 16, 2013 2:20 am

    Financial warn against the use of central bank reserves and they describe with generations



    16-05-2013 | (Voice of Iraq) - Add a comment -
    Baghdad / Adel Saffar

    Warned
    specialize in regard financial and banking system of the use of the
    balance of central bank reserves of hard currency in economic
    development projects, comes at a time the central bank from higher
    reserves of hard currency it to $ 74 billion, and coincided with the
    devaluation of the local currency by 1127 dinars to the dollar in the
    local market.

    The financial expert Farouk Ramadan, "the central
    bank reserve balance of generations, which is supportive of the
    country's economy, and has nothing to do with the price volatility of
    the local currency."

    He said in his speech to the extent that
    "the country in its economy depends on oil exports, only without the
    other aspects that are almost parked such as industry, agriculture and
    other activities adopted by the countries of the world which is
    expanding in support of bank reserves."

    He explained, "from the
    investment projects Vnsttia hand to say that the country is witnessing a
    renaissance began escalating at the project level and work on the
    monitoring of an ambitious budget for construction and expansion in all
    areas."

    For his part, explained financial expert contrary
    goldsmith that the central reserve represents the confidence of the
    international community and local levels and should not be thrown by the
    in the brook projects profit and loss.

    He said in his speech to
    the extent that "the higher the cash reserve enhances the confidence of
    the international community and the local value of the local currency as
    based on the evidence on the ability of the country's economic
    activity."

    "These cash reserves should not be touched by the
    authority for purposes such as debt repayments in government
    institutions because it leads to shake the confidence of the
    international community and the local state."

    He stressed, "If
    what happened and the state was forced to for reasons كالعجز in its
    budget, for example, prefers bond offering to reduce the government
    deficit ratio, and of course the state will be obliged to pay the value
    of those bonds."

    And that it is possible to take advantage of the
    cash reserves in cases of optimal investment, which regulates equities
    additional funds in international companies for the purpose of
    development of these funds, but I think he would prefer at the moment to
    get away from such projects because they are not guaranteed. "

    Moreover
    pointed Chairman of the Finance Committee parliamentary Haider al-Abadi
    said in a statement followed the term to receive messages reassuring
    officials at the central bank to control the subject of volatility in
    the exchange rate, as well as their emphasis on the lack of seriousness
    on the dinar from the presence of a mass of large cash and bank
    officials have expressed great confidence strongly to the central bank
    attributes of the cash reserves of hard currency is estimated at $ 74
    billion, pointing out that the problem is limited to the difference
    between supply and demand in the Iraqi market for the dollar.

    In
    the meantime, an economic analyst warned gentle Abdul Salem Okkaily from
    lending part of the monetary reserves of the Central Bank in investment
    projects for the country because it would hurt the economy and the
    national currency.

    Ugaili said in an interview followed the Range:

    The
    increase in the central bank balance of hard currency to more than 74
    billion dollars, will support the value of the Iraqi dinar and enhances
    the strength of the national economy. He stressed that he does not can
    use Bahtiat the central bank to finance any investment project in the
    country because it will affect the bank balance and thus hurt the
    economy and reduce the exchange rate of the dinar against international
    currencies.

    He revealed a banking source familiar with the size
    of central bank reserves of foreign currency has recorded the highest
    reserve him where it reached 74 billion U.S. dollars, noting that this
    confirms the ability of the central bank to continue its policy to cover
    the needs of the market of the dollar through currency auction daily
    and maintain the continued growth of reserves and development across the
    areas of investment in a number of central banks and diversify its
    resources.

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