_Eye] The
Governor of the Central Bank of Iraq, Ali Al-Alaq, explained about the foreign reserves in the bank and the fact that it is a surplus invested abroad.
Alaak said in a statement, about what some are deliberating regarding the uses and concept of foreign currency reserves (cash, deposits, bonds, gold) with the central bank, that "unfortunately some people understand the foreign reserves of the central bank as a surplus invested abroad."
He added that "the real financial surplus the government has from surplus funds that it invests in a variety of forms such as sovereign funds, investment funds, generational funds, etc. ... As for the reserves with the central bank, they correspond to the dinar issued to the government or others, it is a cover for the local currency and it should not be less than a specific level of adequacy. According to international principles, otherwise the value of the local currency (dinar) will collapse, as happened in the previous system.
www.alliraqnews.com/modules/news/article.php?storyid=94783
Governor of the Central Bank of Iraq, Ali Al-Alaq, explained about the foreign reserves in the bank and the fact that it is a surplus invested abroad.
Alaak said in a statement, about what some are deliberating regarding the uses and concept of foreign currency reserves (cash, deposits, bonds, gold) with the central bank, that "unfortunately some people understand the foreign reserves of the central bank as a surplus invested abroad."
He added that "the real financial surplus the government has from surplus funds that it invests in a variety of forms such as sovereign funds, investment funds, generational funds, etc. ... As for the reserves with the central bank, they correspond to the dinar issued to the government or others, it is a cover for the local currency and it should not be less than a specific level of adequacy. According to international principles, otherwise the value of the local currency (dinar) will collapse, as happened in the previous system.
www.alliraqnews.com/modules/news/article.php?storyid=94783