Economist: central bank retain large quantities of gold will support the Iraqi economy

 Economist: central bank retain large quantities of gold will support the Iraqi economy



14-07-2013 11:50 AM


Baghdad (news) .. Refer economist Hazim al-Nuaimi, the reasons for retaining the Central Bank of large quantities of gold to avoid the Iraqi economy from the seriousness of the economic crisis that hit some countries in the world, as a safe haven for the national currency. Naimi said (of the Agency news): Iraq depends mainly on oil and gas economy and the cover is important for currency, due to suspension of wheel production in it, and thus the central bank to keep the largest amount of gold and other foreign currencies to ensure the economy. said: that the economic situation in the country through the theory of supply and demand for goods is limited by the level of the economy in the global market. referred that Iraq has taken a big step to strengthen its gold reserves to join the other central banks of emerging market economies such as Brazil and Russia to diversify its foreign reserves.