Turki: Central sufficient reserves to cover next year's budget ceiling
The Central Bank Governor Abdul Basit Turki, on Wednesday, that the bank has sufficient reserves to cover the state budget in the event of increased roof next year, pointing out that the Bank's gold reserves has not been affected by changes in the global market.
Said Turki, on the sidelines of his visit to the city of Karbala to open House Financial Supervision, said that "reserves the central bank sufficient to cover the expenses of the Iraqi state in the event of increased roof in the next year," attributing the cause to "a reserve strong and revenues going to the treasury of the bank."
Turki added that "Raising the numbers of the coin is the project delayed due to the conditions experienced by the country," noting that "the Bank's gold reserves has not been affected by changes in the global market, and it will be a great supporter of the Iraqi currency."
The governor of the central bank and agency Abdul Basit Turki confirmed, in (June 13, 2013) that the Reserve Bank will exceed $ 80 billion at the end of next July, indicating that there is a review of the development of mechanisms to use the bank to the reserve, regardless of the existence of the current government or not for specific purposes.
And rejected the central bank, in (the fifth of May 2009), the efforts of government to borrow from the Reserve Bank funds to meet the shortfall in the budget, arguing that such a step contrary to the law and a violation of the independence of the bank, was charged in (12 September 2011), government agencies of obstructing monetary reform and vowed بمقاضاتها, blaming those actors exposing the financial interests of the country to danger.
He said an adviser to Prime Minister for Economic Affairs Abdullah Hussein Al-Anbuge, in (25 August 2011), to raise zeros from the currency is the biggest corruption in Iraq if it was during this period, and fall under the name of tampering with the economic, warning of "mafias currency" is preparing to rig the trillions of dinars Iraq to replace them in the light of the upcoming changes.
It is noteworthy that some economists believe that Iraq is not ready at the present time to delete the zeros from the Iraqi dinar, pointing out that the deletion needs to security and political stability as well as economic stability.
It is noteworthy that the Iraqi Central Bank was established as a bank independent under its law issued on the sixth of March of 2004, and is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and being sessions a day for the sale and purchase of foreign currencies with the exception of public holidays which stops Bank of the auction.
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