Iraq is one of the world’s richest countries
The governor of the Central Bank, the size of the Iraqi reserve of hard currency up to 60 billion dollars, and covers 170% of the size of the mass of the local currency, the governor said in an interview published (Alsumaria News) The size of the reserve currency of foreign currency is always measured to the size of mass Especially since the IMF recently developed a new standard which added the ability of the state to cover trade and debt repayment. He pointed out that the size of the cash mass is 44 trillion dinars and Iraq is fourth in the ownership of US Treasury bonds and The reserve in the foreign currency reserve, and described the reserves of the Iraqi Central Bank of foreign currency as very comfortable within international classifications and is ahead of other countries, compared to the mass of cash offered by the local currency, and said the reserve is close to 60 billion dollars, so the Arab Monetary Fund considers Iraq from Countries.
On the issue of the currency of the category of 100 thousand dinars, he said that these ideas are traded by the Central Bank, but at the present time pending, pointing out that there is a trend in some countries to reduce the categories of currencies so as not to be stored or counterfeited, the currencies of small groups may prompt the citizen to bid farewell to banks to difficulty The Central Bank has a future plan to restructure the Iraqi currency, including the deletion of zeros, but this plan needs to take deliberate steps and a stable situation fully so as not to be exploited in the work of fraud and others, and announced the Central Bank of Iraq on July 12 this year Iraq has 89 tons A gold.
Is not it important in the statements and conversations is to mention the figures, but the important is to analyze and derive the data and results to be clear to all, is there a real need for the large cash bloc amounting to 44 trillion Iraqi dinars and in many cases if a large proportion of them hidden and outside the circulation and did not constitute deposits from them in banks more From 10%, and the large cash mass cost large amounts of money to print and transfer to Iraq because it is printed in a European country and every paper card has the cost of paper and printing, especially as our currency is printed in a special paper and forms and colors and sizes of multiple and contain many signs of safety, And because they are banknotes are vulnerable to damage in the preservation and circulation so that the need to reprint large quantities of them during the periods of time and this substitution is fraught with a lot of hearsay and signals similar to what is currently happening for 7 billion dinars, which is under investigation and investigation, we mean that the large cash mass is not Its connotation But it is perhaps a reflection of the failure and lack of confidence in the work of government and private banking because the citizen did not gain confidence from banking because of the lack of buildings and equipment and technologies and skills of working staff and delay in completing transactions so that the citizen may be in a waiting for the purpose of depositing cash, Not to mention the corruption and arbitrariness of the treatment of customers sometimes and the establishment of some private banks violations reflected on depositors and shareholders without taking firm action from the Iraqi Central, which has not taken decisive decisions towards banks and violation of 10 years ago, and depositors did not recover or We are concerned about the absence of the Deposit Protection Law, which we hear about, but it is still a wish. As the banks of many countries have switched to automatic payment systems through Visa Card, Master Card and ATM and ATM, our system is still dependent on clearing which may last for one week Or more as the validity of the breasts is claimed.
When talking about reserves of more than or less than $ 60 billion, one should not lose sight of the proportion of reserves of foreign loans and debt by sovereign or non-sovereign guarantees because the indebtedness is estimated at $ 120 billion or more of the kind not subject to Paris Club adjustments. If the reserves are compared with revenues Oil (in the case of stopping the export of God forbid) and debt service and Treasury remittances Vali When reserves will survive after addiction to the window selling the dollar in the Central Bank of Iraq, which exceeds 150 million dollars a day under the title of coverage of Iraq’s needs of goods and services, despite the wealth, Great sanctity The exchange rate, which does not change despite the variation that Iraq has experienced, and these prices currently amount to 120 thousand dinars per 100 dollars, although this figure is very far from the prices of the previous conversion (3 and 3) dollars per dinar and far from the prevailing prices (1184) dinars per dollar , And as some say if Iraq shared the fission is limited to
It is the right of every Iraqi to boast about the race’s possession of the gold reserves of 89 tons, which makes Iraq ahead in terms of gold reserves, and the reason for our motivation to boast is that gold as they say in the popular words (decoration and safe) in the sense that would appear Iraq with a view.
It is positive that Iraq is rich, but this richness is like a woman who is charming with her beauty and femininity but hiding inside her tons of pain, tragedy, despair and disappointment. What is the benefit of the large cash mass and the size of its reserves and the weight of gold and the saying of states that Iraq is overstating its reserves.
Every day he dies Hundreds and dozens of patients and the scarcity and loss of medicines and the high cost of health services and a million displaced people in the winter without shelter, food and clothing and the benefit of all this and one third of our people living under the poverty line and there are more than one million unemployed and non-oil sectors are 1% of the balance of payments and most sectors In agriculture, industry and semi-housing And there are a shortage of 4 million housing units and there are more than 2 million citizens rely on social welfare that does not provide the minimum requirements for living and usefulness, and some of the remaining education is destroyed and the spread of unemployment and addiction and cannabis and the number of those who stand in lines of alcohol, although many weaken those who go And the meaning of the presentation of these tragic cases (regrettable) is the need for the official to realize that the importance in his work and his words is not what he achieved for him and for the institution.
To boast about what it achieves for its people to ease and end their tragedies, and to say to the world what they say, including that we are the poorest country in the world because it is important that our people take what they deserve from the wealth that the Creator has given them. It is useless to come out in the calculations of the world when millions of bellies sleep from hunger.
Bassel Abbas Khudair