Journal March 26, 2018
Baghdad – Journal News
The governor of the Central Bank of Iraq, Ali Alalak, the rise of Iraq’s foreign currency reserves to 51.5 billion dollars.
“The foreign reserves rose to $ 51.5 billion this year because the central bank did not buy treasury bills,” al-Alak said in a meeting with a number of local newspaper editors and news agencies. “The central bank has gone a long way in managing foreign reserves and we are starting to generate returns Finance by investing gold abroad. ”
He pointed out that “the central bank was able to restore the independence that he lost since 1980 to the government in addition to controlling inflation, which reached 40% before 2003 and now 4%.”
“The stability of the banking sector is an essential objective to achieve financial stability and curb inflation,” he said.
He explained that “the system of payments in the Central Bank is one of the most advanced systems in the world and estimated transactions carried out monthly 14 trillion dinars did not face any violation.