Walkingstick: JANUARY 16, 2016
Iraqi minister: the financial situation in the Central Bank is still reassuring and has $ 50 billion
BAGHDAD – (dpa) – Iraqi Oil Minister Adel Abdul Mahdi said on Saturday evening that the financial situation in the Central Bank of Iraq is still reassuring despite the fall in oil prices in the global market because it possesses reserves of more than $ 50 billion.
Abdul-Mahdi said in an article on his social networking site Facebook: “facing the country would balance the liquidity crisis like many states, but the country will allow a reasonable possibilities to ease the crisis.”
The Iraqi minister said that “the state institutions deposited financial accounts in banks tens of trillions of dinars and the money belonging mainly to the ministries and companies, but some of this money can contribute to the establishment of funds and portfolios help generate more currency that helps to improve the liquidity of the state vital pumping in activities Economic. And among the citizens papers cash ranging from 40-30 trillion dinars, of course, and these funds are the property of the citizens and did not enter the economic cycle or the banks they are considered hoarding and the freezing of funds process. “
“The levels of inflation does not exceed 2% and the debt is high and Iraq has oil wealth and large reserves of natural resources and investment opportunities and large these are all the temptations attractive to lend to Iraq and give him the necessary facilities and various forms of debt is not a defect or shortage it is an economic necessity if the face in the investment trends owned and repayment capacity and already, Iraq has always met its obligations when he was in the toughest conditions. ”