Economist: Central Bank reserves half depleted during the past two years 1/7/2016
Economist: Central Bank reserves half depleted during the past two years
1/7/2016 0 Comments
The head of economic research and studies department at the University of Mustansiriya Abdul Rahman al-Mashhadani, Thursday, the central bank drained half the reserves of gold and hard currency during the past two years.
He said al-Mashhadani told / information /, that "the government does not have any choice in the support budget for the current year only to go to borrow from the central bank to meet the need in the payment of salaries to state employees."
"And despite the fact that the central bank did not disclose the reserves of hard currency, but all indications and reports that we are following confirm that the reserves of foreign exchange and gold less than (50) billion in the reserves in 2014 (82) billion dollars, a sense that he drained Nearly half of the reserves. "
Between al-Mashhadani and that "the payment of salaries depends on what happens upon oil imports from Iraq in the absence of coverage certainly the government will resort to the central bank to borrow from its reserve" .