Iraq is losing half of the monetary reserves in two years

by **Ponee** Wed Mar 22, 2017 5:21 pm

Reload 03/22/2017 11:23

Iraq is losing half of the monetary reserves in two years 946948_40298922223q

BAGHDAD / JD / .. number of specialists in the financial and economic affairs for the loss of Iraq revealed about half of the cash reserves of hard currency during the years 2015 and 2016 due to austerity and the financial crisis that have beset the country, which the government was forced to withdraw some money from the reserve in addition to the loans in a walk State financial matters, reaching monetary reserves without the $ 40 billion after it was up by about $ 80 billion.

Specialists believe that this measure is a threat to the national currency because foreign reserves is a cover of the national currency.

The cash reserve for any Bld, safety valve, which provides state-of hard currency for trading and import, as well as to provide financial cover in the event of state revenues did not meet in the cover Ahtaajatha, usually revenues derived from oil and natural resources, industrial or agricultural or Altjara, and other revenue production availability of funds for financial balance Alsnoah, and manipulation of this cash reserve or drag it may lead to a significant risk that can not be processed.
He says the decision of the Finance Committee Ahmed Haji told / JD /, that the reason for the decline in the monetary reserves of foreign currency due to the financial crisis that hit the country because of lower oil prices, which have made the government relies on internal and external borrowing to stroll financial matters in the state, which led to a large decline in hard currency.
For his part, revealed the parliamentary finance committee member Sarhan Ohamd, for the withdrawal of the government about $ 40 billion of Iraqi cash reserves.

Ahmed told / KD / "The government has withdrawn about 48 billion dollars deposited in the Central Bank of Iraq since 2014 until Alan, cash reserve which is equivalent to more than half of the strategic stockpiling of about $ 80 billion."

And that "inventories remaining at the Central Bank amounted to about $ 40 billion a month just before", adding that "the budget deficit and the decline in world oil prices and the war on terrorism are all factors causing fatigue entire economy."

As a member of the economic and investment commission in Parliament MP Salam al-Maliki, the central bank carried the decline size of the cash reserve currency.

He said al-Maliki told / KD / that "there are measures included many of the suspicions of corruption and fraud what is known as a window of foreign currency sale at the central bank that caused the depletion of the currency of the country, and led to the reserve decline of the dollar in the bank treasury and that she was more than $ 80 billion to Anonymous No central bank can not permit it. "

The International Monetary Fund has warned of the continuing decrease in size of the monetary reserves of hard currency at the Central Bank of Iraq because it will affect the Iraqi economy in general and the dinar

03.22.2017
http://www.dananernews.com/news?ID=8161

by **Jayzze** Thu Mar 23, 2017 8:08 pm

as soon as m become pm again he will steal whats left of the money

Iraq is losing half of the monetary reserves in two years

Iraq is losing half of the monetary reserves in two years

Re: Iraq is losing half of the monetary reserves in two years