Central Bank of Iraq: the total foreign reserves to 72 billion dollars
Central Bank of Iraq: the total foreign reserves to 72 billion dollars
04/07/2019 06:14 PM
Al Ahd News – Follow-up
The Central Bank of Iraq (CBE) announced on Thursday that the total foreign reserves increased to 72 billion dollars, pointing out that this increase is due to the investment policy followed by the bank and diversifying them using safe tools.
“The total foreign reserves rose to 72 billion US dollars, in light of the data for the first half of 2019, ” an authoritative source at the central bank said in a statement received by Al Ahd News. ” These reserves could rise to 86 Billion dollars if the Ministry of Finance, taking advantage of the high export revenues of oil, the payment of 14 billion dollars to the Central Bank, which represent the remittances of the treasury, which the bank during the period of financial crisis, seeking to achieve financial stability at the time.
He added that “this increase is the result of the investment policy pursued by the bank and diversification by the use of safe tools, which strengthens the international credit situation and enhance confidence in the Iraqi economy, in the framework of efforts to achieve monetary stability, as confirmed by exchange rate indicators, which remained in a state of balanced stability Over the past two years “.
The source added that “the achievement of this increase came in light of the Bank continued its financial initiatives in support of investment projects, including the initiative of financing the 5 trillion Iraqi dinars, for projects of housing, agriculture and industry, in addition to the amount of trillion dinars for small and medium enterprises, which contributes to reducing the unemployment rates.” is over/6
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