KTFA (Frank26 & Don961)

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Don961: The Governor of the Central Bank stresses the need to maintain the continuity of the banking system

Baghdad / Al-Ghad Press

Finance Minister Fouad Hussein, with the Central Bank Governor Ali Al-Alaq and bank managers, urged the latest OPEC agreement and the request of foreign loans

A statement of the media office of the Minister of Finance, received by “Tomorrow Press”, stated that “Deputy Prime Minister and Minister of Finance Fuad Hussein presided over an expanded meeting in the presence of the Governor of the Central Bank, the Under Secretary of the Ministry of Finance, general managers of Rafidain and Rashid and Iraqi banks for trade, customs and tax authorities, and the Public Debt Department to discuss the economic and financial situation for the sake of Securing government needs”

He added, “The minister reviewed the recent OPEC agreement and the decision to reduce the global oil market shares and reduce approximately one million barrels per day from the share of Iraq and the implications of that decision, especially with the collapse of current oil prices and how to overcome these obstacles and cross the current stage”

For his part, Al-Alaq stressed, according to the statement, “the necessity of preserving the continuity of the banking system and balances,” stressing “the importance of analyzing data to obtain information about those balances, whether it is self-financing or central

The statement pointed out that “the banks, during the meeting, reviewed their assets and capabilities in order to contribute to strengthening the current economic and financial reality”

The statement continued, “Also, options for entering the IMF program and asking for external loans were also touched as one of the options that the current government can take to cross the stage.” Whose goods are dedicated to the government”  LIN

Frank26:  4-18-20 …Q&A:  VIDEO LINK

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