The central foreign cash reserves have boosted confidence in the Iraqi economy
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
The central foreign cash reserves have boosted confidence in the Iraqi economy

12/14/2021
Samir Al-Nusairi*
It was announced that the foreign cash reserves of the Central Bank amounted to 64 billion dollars and will rise to a higher rate when the Ministry of Finance pays what it owes to the Central Bank, which represents the sad transfers that the Central Bank discounted during the period of the financial crisis that Iraq suffered for the years 2016-2020 and it was a direct support to the treasury The state and the national economy.
The observer and the specialist is well aware that reaching this rate of foreign reserves is the central bank’s adoption of safe investment policies, which has strengthened the credit position internationally and restore confidence in the Iraqi economy and its international banking relations. And to benefit from the rise in international oil prices and its arrival to 80 dollars per barrel and the effects of reducing the exchange rate The Iraqi dinar in December 2020, this is in addition to the measures and initiatives of the Central Bank during the year 2021, which made a significant contribution to revitalizing the economic cycle and stimulating the economy.
What confirms the safety and success of the Bank’s second strategy (2021-2023) and its monetary policy applications in the year 2021. It is the verification of the achievements in the financing activity and the activation of its initiative to finance small and medium enterprises, amounting to 6 trillion dinars, adding an allocation of up to 7.6 trillion dinars, and focusing on encouraging projects Housing at the Real Estate Bank, the Housing Fund and private banks, in addition to the financing of the Tamkeen Fund for Community Projects.
And that all of these measures led to the improvement of the government’s financial position and the reduction of the actual deficit rates in the 2021 budget, which achieved the central bank’s planned goal for this year as far as its tasks and objectives contained in Law 56 of 2004 and its amendment.
The objectives of the reform of the banking sector were mentioned in the white paper. All of this clearly contributed to supporting the national economy, despite the challenges that the economy suffers from for subjective and objective reasons.
Thus, the Central Bank, with its distinguished national team, was able to achieve one of its main tasks and objectives, which is to build foreign reserves that collectively constitute a safe sufficiency that covers the local currency in circulation and the imports of the private sector.
* Advisor to the Association of Iraqi Private Banks
https://economy-news.net/content.php?id=26945
RamblerNash- GURU HUNTER
- Posts : 24228
Join date : 2015-02-19

» Central Bank's safe investment policies have boosted confidence in the Iraqi economy
» The Prime Minister: The increase in the foreign reserves of the Iraqi Central Bank to 60 billion dollars
» budget--Jabir al-Jabiri: Central Bank reserves are sufficient to meet the budget in full evidence of the strength of the Iraqi economy
» Central Bank: cash reserves exceeded 70 billion dollars
» Increase cash reserves of the Central Bank will strengthen the stability of the dinar
» The Prime Minister: The increase in the foreign reserves of the Iraqi Central Bank to 60 billion dollars
» budget--Jabir al-Jabiri: Central Bank reserves are sufficient to meet the budget in full evidence of the strength of the Iraqi economy
» Central Bank: cash reserves exceeded 70 billion dollars
» Increase cash reserves of the Central Bank will strengthen the stability of the dinar
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
» Kurdistan’s Erbil police shut down illegal casino, arrests ‘gambling network’
» Guru Wolverine 3/16/22
» Guru MarkZ 3/15/23 pm
» Guru Sandy Ingram 3/16/23
» Guru Nader 3/16/23
» Guru MilitiaMan 3/16/23
» Guru MountainGoat 3/16/23
» Gurus Frank26 & Firefly 3/16/23
» Guru Judy 3/16/23
» Guru Okie 3/15/23
» Guru Bruce Dingleberry 3/15//23
» Guru MountainGoat 3/14/23
» Predictable Tony: All you want and more
» Guru MarkZ 3/14/23 am
» Guru Okie 3/14/23
» Gurus MarkZ & Militiaman 3/14/23
» Guru Judy 3/14/23
» Guru Wolverine 3/14/22
» Guru Nader 3/14/23
» Guru Frank26 1/13/23
» Ameraq
» Iraq Retains Poor Ranking in Corruption Perceptions Index 1/31/23
» Iraq cabinet approves 2023 draft budget of more than 197 tln dinars 3/13/23
» Guru MarkZ 3/13/23 am
» Guru Okie 3/13/23
» Guru Nader 3/13/23
» Guru Frank26 3/13/23
» Guru Sandy Ingram 3/13/23
» Guru Judy 3/13/23
» up date on budget
» Adoption of the national currency
» Iraq far from liberal democracy since US invasion in 2003 3/10/23
» Iraq's crackdown on booze, social media posts raises alarm 3/10/23
» "STATUS OF RV" BY DINAR IRAQ AND DONG VIETNAM UPDATE 3/10/23
» Guru Okie 3/10/23
» Guru Bruce Dingleberry 3/923
» Guru Sandy Ingram 3/9/23
» Guru Nader 3/9/23
» Guru MountainGoat 3/9/23