Ali Salman - 07/16/2013 - 3:49 pm | Hits: 69
He favored an economist Hazem al-Naimi, the reasons for retaining the central bank with large quantities of gold to avoid the Iraqi economy from the seriousness of the economic crisis that hit some countries in the world, as a safe haven for the national currency
Al-Naimi said in a press statement that Iraq depends mainly on oil and gas in its economy and important to cover currency, due to suspension of the production wheel, and thus the central bank to retain the largest amount of gold and other foreign currencies to ensure the economy.
He added: that the economic situation in the country through the theory of supply and demand for goods is limited by the level of the economy in the global market.
It is noteworthy that Iraq has taken a big step to strengthen its gold reserves to join the other central banks of emerging market economies such as Brazil and Russia to diversify its foreign reserves.
No comments:
Post a Comment