Central Bank announces increase Iraq’s financial reserves

Central Bank announces increase Iraq’s financial reserves


Central Bank announces increase Iraqs financial reservesThe Governor of the Central Bank on the Keywords, Thursday, increasing the difficult foreign currency than it was in the year 2016 reserves, stressing rising to $ 49 billion.

Keywords and he said in a statement that “the Central Bank, despite the decline in oil resources during the past period by up to 70 percent, he was able to maintain and maintains reserves of foreign level acceptable currency within the international standards, especially that the main criterion for the adequacy of the reserve is covered by the local currency in the sense how much we have dinar and the corresponding dollar. ”

Keywords added that “the amount of the reserve of foreign hard currency in the bank exceeds the amount of local currency in Iraqi dinars, which is within the standard admissibility of this reserve, prompting the IMF to count Iraq’s reserves comfortable and assured by virtue of the standby credit agreement.”

Keywords explained that “the current reserve ranges between 47 billion and $ 49 billion, higher than the level of the reserve for the year 2016,” he said, “We do not feel concerned about this reserve within the global indicators