Relationship carries the responsibility of Government and Parliament Iraq reserves to 53 billion dollars.

June 28, 2016 74

Our economy/Baghdad

The Central Bank Governor said the agency relationship to Iraq's foreign currency reserves reached 53 billion dollars, except that it is in line with international standards and regulations of the International Monetary Fund, the House of representatives and the Government reduced the reserve because their make a friend of balancing its fiscal deficit.

He said the relationship he briefed reporters our agency newsletter, ' foreign currency Bank reserves reached 53 billion dollars could change up or down depending on what it wants from the Ministry of finance ', stating that ' the amount within the Bank and the International Monetary Fund last demonstrates enough to reserve in accordance with the international standard of the existence of the amount of foreign exchange to cover the size of the local currency of the dinar.

He added that relationship ' means the Central Bank foreign currency reserves exceed local ', adding that ' high or low reserve caused by factors outside the Central Bank's will or control, being influenced by two factors, namely the dollar amount to the Bank, selling oil, and what you get Finance Ministry of oil sold by dollar bank to get JD to cover their expenses.

The CBI had been rejected in (13 January 2016) draw from Government reserves, while attributing it to law ' not allowed ' to the Government, invited them to issue bonds and sell them to banks.