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Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries


yota691
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Wednesday, October 24,
 
 
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Alsumaria News / Baghdad , 
said the central bank, Wednesday, he was able to adjust the rate of inflation and reduced to less than 1%, stressing that it comes the existence of a strong financial reserves exceed $ 60 billion. 

The bank said in a statement it received Alsumaria News a copy of it that "looks forward to continue to play its pivotal role in building the state to improve the financial and economic conditions in Iraq ," noting that "the continuation comes supported by the existence of strong financial reserves exceeding 60 billion US dollars as a result of fiscal and monetary policies that Followed by the Central Bank over the past years to stabilize the public financial situation. "

 

 


He added that he "continued to manage the reserves of the state sufficiently to meet international standards on the one hand, and to strengthen the financial capabilities of the state by at least 16 trillion dinars in the form of discounted transfers," stressing that "the monetary policy of the Bank will continue its effective role in maintaining exchange rates and reduce the gap between the official price And market prices under highly complex internal and external conditions. " 

The bank said it "managed to control the inflation rate and reach to low levels less than 1% to maintain the overall level of prices and attract investment," pointing out that "this policy is to ensure the integrity of the financial system and the advancement of the Iraqi economy."

The Central Bank of Iraq was established as an independent bank under its law of 6 March 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.

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Statement issued by the Board of Directors of the Central Bank of Iraq

 October 24, 2018

Statement issued by the Board of Directors of the Central Bank of Iraq

      In line with the development of the democratic process in Iraq and the resulting rotation of the authorities in a positive and stable atmosphere, the Central Bank of Iraq looks forward to continue to play its pivotal role in building the state to improve the financial and economic situation in Iraq. This optimism is supported by a strong financial reserve exceeding US $ 60 billion as a result of the fiscal and monetary policies adopted by the Central Bank over the past years to stabilize the general financial situation, especially in 2014 and the years that followed, with financial conditions at their lowest levels. These years, which brought data threatened the ability of the state to cover the operational expenses and salaries of employees. However, despite the difficult circumstances of low oil prices and the high cost of Iraq's war against the terrorist campaign to liberate its territory, the central bank continued to manage the country's reserves sufficiently to meet international standards and to strengthen the country's financial capabilities Not less than (16) trillion dinars in the form of remittances discounted, which led to support financial stability and contribute effectively to overcome the crisis.As a continuation of the central role of the central bank as a pillar of the country's economy, a positive improvement in oil prices coupled with sound fiscal and monetary policies will enable the Iraqi government to pay early remittances and increase the value of reserves to higher levels. The central bank's monetary policy will continue to play an active role in maintaining exchange rates and reducing the gap between official and market prices under highly complex internal and external circumstances. This is in addition to playing a central role in controlling the inflation rate and reaching the low levels of less than (1%) to maintain the general level of prices and attract investment. As the central bank ensures the safety of the financial system, it will continue to play this role and more effectively in the next phase as the bank of the State to promote the Iraqi economy and support for reconstruction and investment efforts, which was the implementation of the largest lending initiative for the housing sector has exceeded two trillion dinars and other lending programs .

 

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13 minutes ago, yota691 said:

He added that he "continued to manage the reserves of the state sufficiently to meet international standards on the one hand

Hmmmmmm, getting closer to meeting criteria for Article 8 perhaps??? 

I hope this is pertinent, only time will tell for sure. 

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Successful monetary policies have prevented the Central Bank from being influenced by policy shifts
 
8550.jpg
Central Bank of Iraq
  

 Banks


Economy News Baghdad

Despite the political crises that plague the country from time to time, and the latest formation of the current government headed by Adel Abdul Mahdi and President Barham Saleh, the Iraqi Central Bank has remained steadfast through its monetary and monetary policies followed by the advice received from its strategic partners.

The Iraqi Central Bank announced on Wednesday that Iraq's foreign currency reserves amounted to 60 billion dollars due to the monetary and monetary policies adopted by the Central Bank to stabilize the financial situation after 2014.

"In line with the development of the democratic process in Iraq and the resulting rotation of the authorities in a positive and stable atmosphere, the Central Bank of Iraq looks forward to continuing to play its pivotal role in building the state to improve the financial and economic conditions in the country," the central bank said in a press release. Iraq".

He added that "this optimism is supported by the existence of strong financial reserves exceed the (60) billion US dollars as a result of fiscal and monetary policies pursued by the Central Bank over the past years to stabilize the financial situation in general and in particular in 2014 and the years that followed, where the financial situation was the lowest levels and came with data threatened The ability of the state to cover operating expenses and salaries of employees. "

He explained that "the Central Bank did not refrain from continuing to manage the reserves of the state adequately meets international standards, on the one hand, and strengthen the financial capabilities of the State not less than (16) trillion dinars in the form of remittances discounted, which led to support financial stability and contribute effectively to overcome the crisis "He said.

"As a continuation of the central role of the central bank as a pillar of the state economy, the positive improvement in oil prices accompanied by fiscal and monetary policies will enable the Iraqi government to pay early remittances and increase the value of reserves to higher levels."

He pointed out that "the monetary policy of the Central Bank will continue its effective role in maintaining exchange rates and reduce the gap between the official price and market prices under the circumstances of internal and external complex surroundings, in addition to playing a central role in controlling the inflation rate and reach levels below (% 1) to maintain the overall level of prices and attract investment.

The central bank concluded by saying, "The Central Bank is ensuring the safety of the financial system, it will continue to play this role and more effectively in the next phase as the state bank to promote the Iraqi economy and support for reconstruction and investment efforts, which was the implementation of the largest lending initiative for the housing sector so far Trillions of dinars in addition to other lending programs. "


Views 5389   Date Added 10/24/2018

 

http://economy-news.net/content.php?id=14096

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30 minutes ago, DWS112 said:

As the central bank ensures the safety of the financial system, it will continue to play this role and more effectively in the next phase as the bank of the State to promote the Iraqi economy and support system" rel="">support for reconstruction and investment efforts,

 

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Successful monetary policies have prevented the Central Bank from being influenced by policy shifts
 

8550.jpg
Central Bank of Iraq
text.png html.png print.png
 
arrow.gif Banks
 
 
 
Economy News Baghdad
Despite the political crises that plague the country from time to time, and the latest formation of the current government headed by Adel Abdul Mahdi and President Barham Saleh, the Iraqi Central Bank has remained steadfast through its monetary and monetary policies followed by the advice received from its strategic partners.
The Iraqi Central Bank announced on Wednesday that Iraq's foreign currency reserves amounted to 60 billion dollars due to the monetary and monetary policies adopted by the Central Bank to stabilize the financial situation after 2014.
"In line with the development of the democratic process in Iraq and the resulting rotation of the authorities in a positive and stable atmosphere, the Central Bank of Iraq looks forward to continuing to play its pivotal role in building the state to improve the financial and economic conditions in the country," the central bank said in a press release. Iraq".
He added that "this optimism is supported by the existence of strong financial reserves exceed the (60) billion US dollars as a result of fiscal and monetary policies pursued by the Central Bank over the past years to stabilize the financial situation in general and in particular in 2014 and the years that followed, where the financial situation was the lowest levels and came with data threatened The ability of the state to cover operating expenses and salaries of employees. "
He explained that "the Central Bank did not refrain from continuing to manage the reserves of the state adequately meets international standards, on the one hand, and strengthen the financial capabilities of the State not less than (16) trillion dinars in the form of remittances discounted, which led to support financial stability and contribute effectively to overcome the crisis "He said.
"As a continuation of the central role of the central bank as a pillar of the state economy, the positive improvement in oil prices accompanied by fiscal and monetary policies will enable the Iraqi government to pay early remittances and increase the value of reserves to higher levels."
He pointed out that "the monetary policy of the Central Bank will continue its effective role in maintaining exchange rates and reduce the gap between the official price and market prices under the circumstances of internal and external complex surroundings, in addition to playing a central role in controlling the inflation rate and reach levels below (% 1) to maintain the overall level of prices and attract investment.
The central bank concluded by saying, "The Central Bank is ensuring the safety of the financial system, it will continue to play this role and more effectively in the next phase as the state bank to promote the Iraqi economy and support for reconstruction and investment efforts, which was the implementation of the largest lending initiative for the housing sector so far Trillions of dinars in addition to other lending programs. "
 

http://economy-news.net/content.php?id=14096
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  • yota691 changed the title to The Central Bank announces a strong financial reserve of over $ 60 billion
Release date: 2018/10/24 14:17 • 182 times read
The Central Bank announces a strong financial reserve of over $ 60 billion
(Baghdad: Al-Furat News) The Central Bank of Iraq revealed the value of the country's financial reserve and described it as strong.
The Central Bank of Iraq Board said in a statement received by the agency {Euphrates News} a copy of today, "in conjunction with the evolution of the democratic process in Iraq and the resulting circulation of the authorities in a positive atmosphere and stable, the Central Bank of Iraq looks forward to continue to play its pivotal role in building the state To improve the financial and economic conditions in Iraq. " 
He added: "This optimism is supported by the presence of strong financial reserves exceeding 60 billion US dollars as a result of the monetary and monetary policies pursued by the Central Bank over the past years to stabilize the financial situation in general and in particular in 2014 and the years that followed, where the financial situation is lowest levels These years, which came with data Threatened the ability of the state to cover the operational expenses and salaries of employees.
"However, the central bank's interventions, despite the difficult circumstances of low oil prices and the high cost of Iraq's war against the terrorist campaign to liberate its territory, the central bank continued to manage the state's reserves sufficiently to meet international standards on the one hand, Of the state by at least 16 trillion dinars in the form of remittances discounted, which led to support financial stability and contribute effectively to overcome the crisis. 
"As a continuation of the central role of the central bank as a pillar of the state economy, the positive improvement in oil prices accompanied by fiscal and monetary policies will enable the Iraqi government to pay early remittances and increase the value of reserves to higher levels."
"The monetary policy of the Central Bank will continue to play an effective role in maintaining exchange rates and narrowing the gap between the official price and market prices under highly complex internal and external conditions, in addition to playing a central role in controlling the inflation rate and reaching levels below 1% To maintain the overall level of prices and attract investment. " 
"The central bank will ensure the safety of the financial system, it will continue to play this role and more effectively in the next phase as the state bank to promote the pace of the Iraqi economy and support for reconstruction and investment efforts, which was the implementation of the largest lending initiative for the housing sector so far exceeded two trillion dinars in addition to programs Other lending "
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  • yota691 changed the title to Keywords: Central Reserve exceeded the barrier of 60 billion dollars
 
4248.jpg
Governor of the Central Bank Ali Al-Alaq
  


 Banks


Economy News Baghdad

The governor of the Central Bank of Iraq, Ali Alaak, that the Central Reserve reached 61 billion dollars at the moment, revealing the existence of 15 billion dollars debt to the bank on the government.

The Information Office of the House of Representatives in a statement read by "Economy News", 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 Alaq.

The statement pointed out that the relations explained that "the reserve of the Central Bank of Iraq is different from the government reserves," noting "the government 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's reserves are higher than in the past, reaching in 2014 about 66 billion dollars, while the current reserve is about 61 billion dollars, as well as the existence of 15 billion dollars of debt to the central bank on the government to finance the budget deficit."

The statement said 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 dollars per month, while salaries 4 billion per month, which may lead to the collapse of the economic situation, which imposed the intervention of the Central Bank," noting that " The reserve in Iraq according to international standards is currently 169% and is expected to reach after two months to about 180% and the volume of the Iraqi currency traded in the market amounted to 43 trillion dinars.


Views 50   Date Added 13/11/2018

 
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  • yota691 changed the title to Reserve of the Central Bank of Iraq amounts to 61 billion dollars

image.php?token=247591d8b9aeffb8194f2e9fe1821af0&size=

 
 
Number of readings: 789 13-11-2018 01:19 PM
 
 

13-11-2018 01:19 PM 

 

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.

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Good morning Yota;

This article is very encouraging, and shows that we they/we are moving in the right direction. 

“ 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.

Value DV, is being added is to their currency as we speak, the inevitable, which is its true value, will be in the near future 2019 could be our year. 😉

Edited by Wiljor
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8 minutes ago, Wiljor said:

Value DV, is being added is to their currency as we speak, the inevitable, which is its true value, will be in the near future 2019 could be our year. 😉

 

!!!SALUD, DUDE!!!, Wiljor, AND The Very Best Of Your Week To You Hoping You Are Enjoying Massive Quantities Of Tim's Just The Way You Like It!!! :tiphat:

 

It is a WELCOMED RELIEF to see You posting again!!! I know life events and activities have kept You away for a while so hopefully things are settled enough to see You MORE often!!!

 

In The Mean Time...............................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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15 minutes ago, Synopsis said:

 

!!!SALUD, DUDE!!!, Wiljor, AND The Very Best Of Your Week To You Hoping You Are Enjoying Massive Quantities Of Tim's Just The Way You Like It!!! :tiphat:

 

It is a WELCOMED RELIEF to see You posting again!!! I know life events and activities have kept You away for a while so hopefully things are settled enough to see You MORE often!!!

 

In The Mean Time...............................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

Thanks so much brother Synopsis, and always a pleasure to read your comments here in DV. 

Yes, it’s been a busy year for me and continues be, but, I do try to come by every now and again to keep informed and on top of the current events coming out of Iraq.  Be well my brother, and thanks for your ongoing contributions here, you have a way of making a clear picture of a moving target 😉 

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4 minutes ago, Wiljor said:

Thanks so much brother Synopsis, and always a pleasure to read your comments here in DV. 

Yes, it’s been a busy year for me and continues be, but, I do try to come by every now and again to keep informed and on top of the current events coming out of Iraq.  Be well my brother, and thanks for your ongoing contributions here, you have a way of making a clear picture of a moving target 😉 

 

:twothumbs: Thank You To You For All Your Valuable Contributions, Too, Wiljor, AND All The Very Best!!! :tiphat:

 

Go Moola Nova!

:pirateship:

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3 hours ago, Wiljor said:

Good morning Yota;

This article is very encouraging, and shows that we they/we are moving in the right direction. 

“ 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.

Value DV, is being added is to their currency as we speak, the inevitable, which is its true value, will be in the near future 2019 could be our year. 😉

Nice to see my brother 🙏🏼😊

43 trillion IQD/1190 = $36 billion dollars

$61 billion in reserve / $36 billion = $1.69.............This is why the CBI said 169%

 

Go cbi

Go reserve

Go $1:1+

 

 

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30 minutes ago, Laid Back said:

Nice to see my brother 🙏🏼😊

43 trillion IQD/1190 = $36 billion dollars

$61 billion in reserve / $36 billion = $1.69.............This is why the CBI said 169%

 

Go cbi

Go reserve

Go $1:1+

 

 

Yes brother Laid Back, they are preparing to go international. The steps to do so are unfolding and the proper laws and policies  being Implemente. 2019 looks very promising.  So good to see you and very much appreciate your input here in DV. 

🙏👍

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1 hour ago, Half Crazy Runner said:

 

I like your numbers 👍🏻

Thanks HCR👍🏼 I like them too.... it’s very possible we will see $1:1 or more.

 

1 hour ago, Wiljor said:

Yes brother Laid Back, they are preparing to go international. The steps to do so are unfolding and the proper laws and policies  being Implemente. 2019 looks very promising.  So good to see you and very much appreciate your input here in DV. 

🙏👍

Totally agree my brother Wiljor,

Like you said the CBI is on the verge to go international and 2019 looks very promising 

for iraq and for us.

 

Go RV asap.

Go $1:1+

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2 hours ago, Laid Back said:

Nice to see my brother 🙏🏼😊

43 trillion IQD/1190 = $36 billion dollars

$61 billion in reserve / $36 billion = $1.69.............This is why the CBI said 169%

 

Go cbi

Go reserve

Go $1:1+

 

 

Don't forget the gold reserves. I think it is around 90 tons

90 tons = 2,893,567.19

Troy ounce price = $1200.70 (today)

$3,474,306,125.03

Add to reserve number

Round numbers

43 trillion IQD/1190=$36 billion dollars

$64.5 billion / $36 billion = $1.79............. There is the other number 180%  "expected to reach two months after about 180% "

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5 minutes ago, yogaman said:

Don't forget the gold reserves. I think it is around 90 tons

90 tons = 2,893,567.19

Troy ounce price = $1200.70 (today)

$3,474,306,125.03

Add to reserve number

Round numbers

43 trillion IQD/1190=$36 billion dollars

$64.5 billion / $36 billion = $1.79............. There is the other number 180%  "expected to reach two months after about 180% "

Good observation yogaman..... Thanks for your input.

 

Go RV

Go $1:1+

 

Namaste 🙏🏼

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  • yota691 changed the title to Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries

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