The Central Bank sold the weak state revenues of hard currency in the past month .. the government and the Reserve is close to zero

[yota691]

Sunday, February 14, 2016 14:18 Parliamentary Finance: The Central Bank sold the weak state revenues of hard currency in the past month .. the government and the Reserve is close to zero

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BAGHDAD / Baghdadi News / ... the parliamentary finance committee revealed, on Sunday, for the central bank to sell the amount of hard currency and the equivalent of more than double the state revenues derived from the export of oil imports.

 

Said committee member Majda al-Tamimi in an interview / Baghdadi News /, said that "Iraq's imports during the month of January last reached one billion and 143 million dollars, while the Central Bank to sell 3 billion and 318 million dollars."

Tamimi said, "The difference between the two amounts were covered by cash reserves of the Central Bank."

And it showed that the "government reserve of cash approached zero, while conducting operations to withdraw from the Organization of central bank reserves, which could cause an economic catastrophe."

She drew member of the committee that "the monetary reserves of the Central Bank is approaching $ 50 billion, up from $ 59 billion, as a result of withdrawals from the auction of the bank and covered the expenses of the state."

And was amazed Tamimi, from the "continuation of the central bank sold foreign currency for the purpose of importation of Consumer Goods unnecessary (such as gypsum, juices and other materials), despite the financial crisis experienced by Iraq" .anthy 21 / N

 

[vomer]

So they are over-buying and under-selling and pulling out reserves to cover the difference?

[Boozer]

Makes me go HUMMMMMMMMMMMMM

[skeetdog]

Thanks Yota...I wouldn't put much stock in the bean-counter department...The CBI makes they money, they just count it...

[sandfly]

THANKS

[vato96]

Looks like smoke

[Laid Back]

This is what they want you to believe.!

[NoviceInvestor]

This is what they want you to believe.!

I value your opinion and always look forward to your positive comments .. And I am a firm believer that the Iraqi currency will be valuable one day .. But when one reads the smoke and mirror news I find it harder to imagine that the benefits of an improve value of the currency is going to happen in my remaining life ...

[Brisco]

Their just doing what I would do, show your hand here why your doing something else with the other.

Kuwaitt did the same thing.

Why give away more than you have to, and try to get as much back as possible as inexpressive as possible.

I believe we will just wake up to it done with text from Adam waiting