Reserve of the Central Bank of Iraq amounts to 61 billion dollars

The Reserve Bank of Iraq has reached $ 61 billion at the moment with $ 15 billion of debt owed to the government.

The Information Office of the House of Representatives said in a statement, that the Council discussed in its meeting, held on Monday, monetary policy in the presence of the Governor of the Central Bank of Iraq Ali Alalak‘.

The statement pointed out that the relations explained that ‘the reserve of the Central Bank of Iraq is different from the government reserves’, indicating’ the government’s reserve is due to the surplus achieved by the Ministry of Finance, which happened in the years before 2012, where the reserve reached in 2012 to about 20 billion dollars decreased after Deficit to small amounts’.

He added that ‘the bank reserve is higher than the previous, reaching in 2014 about 66 billion dollars, while the current reserve is about 61 billion dollars, as well as the existence of $ 15 billion debt to the central bank on the government to finance the budget deficit’.

The statement pointed out that ‘the bank has bought treasury remittances and financial bonds from the market, especially that the oil revenues did not exceed the net about $ 2.5 billion per month, while salaries 4 billion per month, which could lead to the collapse of the economic situation, which imposed the intervention of the Central Bank’, noting that ‘adequacy The reserve in Iraq according to international standards is currently 169% and is expected to reach two months after about 180% and the volume of the Iraqi currency traded in the market amounted to 43 trillion dinars. Source

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