The Central Bank..government and the Reserve is close to zero

Parliamentary Finance: The Central Bank sold the weak state revenues of hard currency in the past month .. the government and the Reserve is close to zero

Sunday, February 14, 2016 14:18

The Central Bank - government and the Reserve is close to zeroBAGHDAD / Baghdadi News / … the parliamentary finance committee revealed, on Sunday, for the central bank to sell the amount of hard currency and the equivalent of more than double the state revenues derived from the export of oil imports.
Said committee member Majda al-Tamimi in an interview / Baghdadi News /, said that “Iraq’s imports during the month of January last reached one billion and 143 million dollars, while the Central Bank to sell 3 billion and 318 million dollars.”
Tamimi said, “The difference between the two amounts were covered by cash reserves of the Central Bank.”
And it showed that the “government reserve of cash approached zero, while conducting operations to withdraw from the Organization of central bank reserves, which could cause an economic catastrophe.”
She drew member of the committee that “the monetary reserves of the Central Bank is approaching $ 50 billion, up from $ 59 billion, as a result of withdrawals from the auction of the bank and covered the expenses of the state.”
And was amazed Tamimi, from the “continuation of the central bank sold foreign currency for the purpose of importation of Consumer Goods unnecessary (such as gypsum, juices and other materials), despite the financial crisis experienced by Iraq” .anthy 21 / N