Governmental advisor: Central bank reserves are sufficient for 14 months

by **claud39** Thu Mar 19, 2020 10:34 am

03/19/2020

{Baghdad: Al Furat News} The Prime Minister’s Adviser for Financial Affairs, Mazhar Muhammad Salih, confirmed that Iraq’s reserves with the Central Bank are high and reassuring at the present time.

Saleh said in a press statement, "The cash issue of the national currency is covered by ultra-high, stable and very strong."

He added, "The Iraqi monetary reserve is consistent with indicators of the so-called adequacy of reserves, as foreign reserves cover approximately 13-14 import months compared to the global scale by three months, so they are high and currently reassuring."

Saleh pointed out that "the central bank manages its reserves with high accuracy and according to internationally approved investment guidelines."

Ammar Al-Masoudi is over

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by **claud39** Thu Mar 19, 2020 2:09 pm

Despite international energy warnings, the central bank is able to secure salaries and cover debt

3/19/2020

Governmental advisor: Central bank reserves are sufficient for 14 months %D9%85%D8%AD%D8%A7%D9%81%D8%B8-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%B9%D9%84%D9%8A-%D8%A7%D9%84%D8%B9%D9%84%D8%A7%D9%82-696x435

Governmental advisor: Central bank reserves are sufficient for 14 months %D9%85%D8%AD%D8%A7%D9%81%D8%B8-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%B9%D9%84%D9%8A-%D8%A7%D9%84%D8%B9%D9%84%D8%A7%D9%82-696x435

Information / Baghdad ..

The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed on Thursday the ability of Iraq to secure the salaries of employees and retirees and cover despite the great collapse in oil prices, while stressing that prices will not remain at this level.

"According to our preliminary indications, we will be able to cover external debts and salaries," Al-Alaq said in statements to Agence France-Presse and her follower / Maalouma.
He added, "Oil prices will not remain at this level. We do not expect it to rise much, but it is sufficient to secure the required amounts. ”

Al-Alaq explained, that officials are still closely reviewing the draft 2020 budget, which is one of the largest Iraqi budget ever, amounting to about 164 trillion dinars.

Earlier, IEA chief Fatih Birol had warned thatIraq will face enormous economic pressures in light of the collapse of the oil price, while appealing to Iraqi officials to find urgent solutions.

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https://www.almaalomah.com/2020/03/19/463176/

by **claud39** Sun Mar 22, 2020 10:23 am

An economist explains the possibility of Iraq to maintain the dollar exchange rate

22/03/2020

Governmental advisor: Central bank reserves are sufficient for 14 months %D8%AF%D9%88%D9%84%D8%A7%D8%B1444-696x435

Governmental advisor: Central bank reserves are sufficient for 14 months %D8%AF%D9%88%D9%84%D8%A7%D8%B1444-696x435

Information / private

On Sunday, economist Dr. Safwan Qusai said that the central bank has reserves that enable it to maintain the dollar exchange rate for a certain period, pointing out that the demand will be greater on the dollar if the world cannot control the Corona virus in the second quarter of this year.

Qusai said in a statement to the "information", that "the monetary policy controls the exchange rate of the dollar and the banks were not affected by the operations of pumping Iraqi cash or foreign currency."

He added that " Iraq revenues decreased due to the low price of oil, and it was possible that the Ministry of Finance and the Central Bank could not finance the amount of the dollar required in the local environment, but not for the current period."

And that " Iraq, in the event that there is no decline in the Corona virus in the second quarter of this year, it is possible that there will be an increase in the level of demand for the dollar in Iraq and the world."

He explained that "the dollar may be a safe haven for the world, especially with the drop in the price of shares due to the decline in the level of production, causing the decline in the level of profits and all things are declining except for gold, which is the least loss."

He stressed that "the central bank has reserves that enable it to maintain stability at dollar prices, but for a certain period."

25 n ended

https://www.almaalomah.com/2020/03/22/463691/

by **claud39** Mon Mar 23, 2020 1:49 pm

Economist: The central bank can keep the dollar rate, but for a specific period

Monday, March 23, 2020

Governmental advisor: Central bank reserves are sufficient for 14 months 1020193113324852980829

The economist, Safwan Qusai, confirmed that the central bank has reserves that enable it to maintain the dollar exchange rate for a certain period, pointing out: "The demand for the dollar will be greater if the world cannot control the Corona virus in the second quarter of this year."

Qusai said in a press statement, "The monetary policy controls the exchange rate of the dollar, and the banks were not affected by the Iraqi currency or foreign currency pumping operations."

He added: "The revenues of [size=15]Iraq decreased due to the low price of oil, and we can witness the inability of the Ministry of Finance and the Central Bank to finance the amount of dollars required in the local environment, but not for the current period."

He stressed: "The central bank has reserves that enable it to maintain stability at dollar prices, but for a certain period."
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