The Central Bank announces a strong financial reserve of over $ 60 billion

The Central Bank announces a strong financial reserve of over $ 60 billion

2018/10/24 14:17

The Central Bank announces a strong financial reserve of over 60 billion(Baghdad: Al-Furat News) The Central Bank of Iraq revealed the value of the country’s financial reserve and described it as strong.
The Central Bank of Iraq Board said in a statement received by the agency {Euphrates News} a copy of today, “in conjunction with the evolution of the democratic process in Iraq and the resulting circulation of the authorities in a positive atmosphere and stable, the Central Bank of Iraq looks forward to continue to play its pivotal role in building the state To improve the financial and economic conditions in Iraq. ”
He added: “This optimism is supported by the presence of strong financial reserves exceeding 60 billion US dollars as a result of the monetary and monetary policies pursued by the Central Bank over the past years to stabilize the financial situation in general and in particular in 2014 and the years that followed, where the financial situation is lowest levels These years, which came with data Threatened the ability of the state to cover the operational expenses and salaries of employees.
“However, the central bank’s interventions, despite the difficult circumstances of low oil prices and the high cost of Iraq’s war against the terrorist campaign to liberate its territory, the central bank continued to manage the state’s reserves sufficiently to meet international standards on the one hand, Of the state by at least 16 trillion dinars in the form of remittances discounted, which led to support financial stability and contribute effectively to overcome the crisis.
“As a continuation of the central role of the central bank as a pillar of the state economy, the positive improvement in oil prices accompanied by fiscal and monetary policies will enable the Iraqi government to pay early remittances and increase the value of reserves to higher levels.”
“The monetary policy of the Central Bank will continue to play an effective role in maintaining exchange rates and narrowing the gap between the official price and market prices under highly complex internal and external conditions, in addition to playing a central role in controlling the inflation rate and reaching levels below 1% To maintain the overall level of prices and attract investment. ”
“The central bank will ensure the safety of the financial system, it will continue to play this role and more effectively in the next phase as the state bank to promote the pace of the Iraqi economy and support for reconstruction and investment efforts, which was the implementation of the largest lending initiative for the housing sector so far exceeded two trillion dinars in addition to programs Other lending ”

alforatnews.com