International Monetary Fund show his conviction for the fina

[Stillw8n]

International Monetary Fund show his conviction for the financial policy for Iraq
08/10/2011 13:45

Baghdad, October 8 (Rn) – The Central Bank of Iraq, on Saturday, there is acceptance of the International Monetary Fund on the Iraq political cash.

The deputy governor of Central Bank of Iraq the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that “the IMF is convinced that monetary policy in the direction the country is heading a true fit with the reality of the Iraqi economy.”

He added that “the central bank follows the monetary policy to reduce inflation and provide cover for the local currency and economic controls commensurate with the fiscal policy pursued in Iraq.”

He noted that “the central bank constantly reviews the Ssayasth cash and mechanisms for the dependents of annual inflation and gaps facing the use of foreign currency and local communities in the country.”

And the Iraqi Central Bank announced last Thursday a rise in financial reserves of $ 8 billion since the beginning of this year, indicating that the reserve was 50 billion last year and is now to 58 billion.

Officials in the Iraqi Central Bank to increase reserves is a sign of maturity and development of monetary policy and consistency with fiscal policy in the country.

And is keen to address the economic gaps in the circulation of local and foreign currency.

Indicates that the central bank reserve bank is not stagnant or stock is used in the open market in order to achieve a balance between liquidity and demand in the local currency traded.

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