Governor of the Central Bank: IMF surprised Bamtlakena reserves exceed expectations

Author: ZJ
Editor: BK
11/09/2016 18:26
Number of Views: 44

Long-Presse / Oman

The governor of the Central Bank, on the Keywords, on Sunday, Iraq's commitment to the pledges made to the International Monetary Fund Ptoukatadtha specific, especially as it is consistent with the orientations and objectives, noting that the Fund was surprised to be Iraq's reserves of foreign currency more than its forecast of about ten billion dollars.

And concluded in the Jordanian capital, Amman, on Saturday, (the tenth of September now 2016), a new round of talks between Iraq and the International Monetary Fund on standby credit program for a loan worth $ 18 billion, to be completed in November.

The governor of the central bank and the agency, Ali Ismail Keywords, in an interview to the (long-Presse), "The Central Bank has provided during the talks a detailed report on the actions of all by the Bmocal agreeing with him," adding that "the report stressed the central bank's commitment to the implementation of more than 20 pledge to fully and a proposal within the time specified timings. "

He Keywords that those "commitments within the central bank's plan originally, and relate multiple aspects, the most important measures to combat money laundering and terrorist financing," noting that "the Bank has provided complete dossiers on the regulations and guidelines and instructions and electronic systems that done in this regard."

He said the central bank governor, said: "The report also included actions related to capacity building for both the Central Bank or other banks, with evidence relating to inspection and control," pointing out that "the Central Bank also provided with respect to the completion of Islamic Financial Institutions Act and the system of credit information at the national level and amendments to its law, the appointment of an external auditor to audit the reserves and the application and dissemination of financial stability indicators. "

In the axis of his speech, the Reserve Central Bank foreign currency, and the look of the International Monetary Fund to him, said the Keywords, that "the IMF report showed that the reserve balance at the central bank more than he expected about $ 10 billion," they returned to it, "an important indicator reserves on the performance of the Bank and adequacy, particularly because they increase the amount of local currency, the dinar, in circulation. "

He said Governor of the Central Bank of Iraq, that "the calendar of the International Monetary Fund proves that the central bank's performance has been remarkable under the circumstances the challenges facing Iraq and the conditions of unstable economically, financially, politically and security."

Iraq and delivered by mid-July 2016, about $ 634 million, representing the first installment of the IMF loan, immediately after the IMF Executive Board approval, in (the seventh of this month), on the standby credit agreement with Iraq, noting that the term of the loan is five years low annual interest rate of one and a half percent (1.5%), and that the number of payments is 13 batch stretches over 36 months.

The United States of America, confirmed in (the twentieth of April 2016), that the economic reforms the Iraqi government began to show the effects of an increase of non-oil imports, indicating that the Iraqi government's success in reducing the budget deficit means obtaining a loan from the International Monetary Fund worth billions of dollars.

The appearance of Mohammed Saleh, said in an interview to the (long-Presse), in the (26th January 2016), that Iraq has agreed with the International Monetary Fund for long-term soft loans for the implementation of development projects, noting that the fund is among other conditions, government expenses, and modified some procedures related to economic policies, while counting economist that "the most important" of those loans is to know the amounts that will be obtained during the year 2016.

The International Monetary Fund agreed in the (13 January 2016), to finance the deficit of the Iraqi budget through clouds of hard currency reserves, which led to the reduction of those reserves from $ 59 billion October 2015 end, to 43 billion during the current year 2016.