Central Bank announces the rise of Iraq’s foreign currency reserves

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.

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Iraq’s debt is $ 71 billion

Banks

Economy News Baghdad: The Iraqi central bank governor Ali Aliak said on Monday that the Iraqi debt reached 71 billion dollars, stressing that the subject of deleting zeros from the currency is ready but needs a suitable environment for its implementation. Al-Aalak said in a meeting with the editors of a number of Iraqi media and attended by “Economy News” that “Iraq’s external debt is still within reasonable rates did not reach the red zone,” stressing that “the current Iraqi debt is $ 71 billion, divided into 42 billion An internal debt dollar and $ 29 billion in foreign debt. “ He added that “some specialists add to the total debt amount of more than 40 billion dollars, which is a Gulf debt since the time of the previous regime and is pending and did not claim these countries,” explaining that “the Gulf countries may be debt cancellation at any time.” On the other hand, Al-Alaq said that “the subject of deleting zeros from the currency is ready but needs a suitable environment to be applied to prevent manipulation and fraud by the owners of vulnerable souls,” noting that “the Central Bank sent the salaries of employees of the Kurdistan region before solving the problem with the central government and deposited In the branch of Erbil. “

http://economy-news.net/content.php?id=11713

 

Central Bank announces the rise of Iraq’s foreign currency reserves to 51.5 billion dollars

Side of the meeting of the Governor of the Central Bank on the relations with the local media «Economy News»

Banks

Economy News Baghdad: The governor of the Central Bank of Iraq, Ali Alalak, the rise of Iraq’s foreign currency reserves to 51.5 billion dollars. Al-Alak said in a meeting with a number of editors of local newspapers and news agencies, including the “Economy News”, that “the foreign reserves rose this year to 51.5 billion dollars because of the failure of the central bank to buy treasury remittances,” adding that “the central bank has gone a long way in managing Foreign reserves and we are starting to generate financial returns by investing gold abroad. “ He pointed out that “the Central Bank was able to restore the independence 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 continued 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 violations.”

http://economy-news.net/content.php?id=11712

The last week of the House of Representatives will resume tomorrow

 

Release Date: 2018/3/26 22:25 • 82 times scheduled

(Baghdad: Al Furat News) The House of Representatives will hold the morning of tomorrow, the first sessions of the last week before the deputies devote to the campaign, which is scheduled to begin on the tenth of April.

The session will be devoted tomorrow to vote on 15 draft law ready to vote, which had been included in the previous sessions, but the lack of completeness prevented the vote on it.
Although the end of the life of the current House of Representatives ends on June 30, the start of the election campaign and near the parliamentary elections will prevent the extension of the legislative term to be the meetings this past week.
The general elections will be held on May 12, while the election campaign will begin on the tenth of next April

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Council of Ministers of Kurdistan Region holds an “important” meeting on salaries

 Twilight News    

 38 minutes ago

“The Kurdistan Regional Council of Ministers is scheduled to hold a meeting on Thursday at its headquarters in Erbil, the capital of the Kurdistan Region to discuss a number of issues.

An informed source told Twilight News that the council would hold a “crucial and important” meeting on Thursday on compulsory savings and the problem of salaries.

The source added that the council will discuss the demonstrations of teachers and teachers and the boycott of medical staff for the official time in hospitals in some provinces of the region.

Keywords:

http://www.shafaaq.com/ar/Ar_NewsReader/9dc3414d-2275-4a71-bf50-614c220db7d7

The economy of the Iranian currency is falling to its lowest level

 Twilight News    

 14 minutes ago

The Iranian currency fell to its lowest level on Monday, as the dollar peaked above 50,000 riyals for the first time, while analysts said this was due to the stern US position on Tehran.

The riyal lost about a quarter of its value in the last six months to reach $ 50,860 riyals, according to the Financial Information Market, a reliable website tracking open market volatility.

The gap continued to widen with the official exchange rate of 37686 riyals on Monday.

The Iranian government took tough measures last month to stem the devaluation of the local currency on the open market, where it arrested foreign currency traders, froze speculators’ accounts, raised interest rates and bought millions of dollars in an effort to curb its rise.

Many analysts believe the United States will withdraw from the nuclear deal reached with Iran in 2015 when it is due to be renewed in May, which means re-imposing sanctions, which have greatly affected the Iranian economy.

Iranian officials have complained that citizens are racking up billions of dollars at a time when local banks are short of liquidity.

The devaluation of the currency is a key problem for the government of President Hassan Rowhani, who was hoping to attract large foreign investment after the nuclear deal.

The collapse of the currency would be another expulsive factor for potential investors, who already face major hurdles as a result of US sanctions unrelated to the remaining nuclear file.

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http://www.shafaaq.com/ar/Ar_NewsReader/fbc0c840-1501-4c0f-8826-b2695d3663c5

Regional Government of Kurdistan to spend more than 4 billion dinars to the Ministry of Health

 Twilight News    

 43 minutes ago

The Ministry of Finance and Economy in the Kurdistan Regional Government has allocated financial aid and grants to the Ministry of Health, hospitals and medical centers.

According to the document, the amount allocated is 4 billion, and 100 million Iraqi dinars.

See the text of the document written in Kurdish below:

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http://www.shafaaq.com/ar/Ar_NewsReader/bce7e269-50d9-48c0-9b4d-1a1cbf5d8cf0