The central bank reserves jump to 64 billion dollars, and an important US decision is awaited by Iraq


  •  Time: 12/13/2021 08:12:12 
  •  Reading: 2,379 times 
The central bank reserves jump to 64 billion dollars, and an important US decision is awaited by Iraq

{Economic: Al Furat News} The Central Bank of Iraq’s foreign currency reserves rose. 

A senior source in the Central Bank of Iraq said, “The hard currency reserves at the US Federal Reserve rose to 64 billion dollars, due to the rise in the oil markets.”
The source also attributed the strengthening of the foreign monetary reserve to “some important measures taken by the government”, in reference to the measures related to fiscal and monetary policies included in the white paper.
The source commented on the possible US decision that “it will bring significant financial benefits to Iraq,” which was confirmed by the financial advisor to the Prime Minister, Mazhar Muhammad Salih.
Saleh said in a press statement that Iraq “will reap a great benefit in light of the new monetary policy of the United States of America, because the Central Bank of Iraq invests the least amount of its foreign reserves in the United States with the highest risks.”
Among the investments that Iraq is engaged in are short-term and interest-bearing assets, and these include “treasury bonds and bank deposits,” according to Saleh.
Saleh echoes his words, warning “against borrowing from the American market, because that will be very expensive, due to the high interest costs on loans.”
The inflation index in the major countries of the world constitutes an obsession that pushes them to motivate them to raise the dollar interest, and this is what the US Federal Reserve plans to do; Which decided the middle of next year, to raise interest rates on the dollar.
Those indicators drawn by those US data, the Iraqis read, are the increase in material returns and interests on Iraqi money, assets and bonds in America, most notably the hard currency reserves in Washington.

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