Saturday, November 19, 2011Attorney Al-taei: Central Bank possesses substantial financial reserves could fill budget deficits (2012)
Baghdad, Between the parliamentary Economic Committee member and Deputy/National Alliance/Yusuf Al-Tai said the Central Bank possesses the biggest financial reserve in the history of Iraq, saying he can bridge any disability or problem occur in the next budget.
He said Al-taei told reporter (News Agency news) Saturday: Central Bank of Iraq possessed substantial financial reserves that exceed 60 billion dollars and this is the entire financial reserves of the Central Bank in the history of Iraq.
He noted: this is a very large amount of State that can protect him in case of any disability or financial problems in the next budget for the financial shortfalls which gives great motivation for the Iraqi economy to develop in the future and moving forward.
Al-Tai said: this large reserve would have a positive impact on the Iraqi dinar exchange rate, leading to strengthened in the future, saying: it would give some sort of credibility in dealing with the Iraqi currency if Iraq opened with the most economically developed countries.
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He added: it will attract foreign investors and global corporations to invest in sound inside Iraq and in all sectors, indicating that Iraq next substantial economic investment that Iraq needs to monetary stability and that the Central Bank.
He had warned the parliamentary Financial Committee member and Deputy/Iraqi/coalition Ahmed got, government borrowing from the Central Bank reserves to pay budget deficit (2012) being regarded as a cover for the Iraqi currency, likely that balancing (2012) will reach more than 1 trillion dinars (112).
He got in an earlier statement (News News Agency): the Government cannot be manipulated or borrow from the Central Bank reserves to bridge the budget deficit (2012) the fact that these amounts are cover for existing Iraqi currency, the Central Bank indicating that an independent body and not linked to the Government, no one should interfere in its affairs or manipulate score.
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