Long-Presse / Baghdad
Iraqi Central Bank revealed on Saturday, the bank reserve "will not affect", in any form, indicating that the current month reserve higher than its predecessor, while pointing out that if Iraq remained dependent on oil as a principal source of resources will remain affected "negatively and positively "with the rise and fall of oil prices.
He said the Iraqi Central Bank Governor Mahdi Keywords in an interview with a number of media, including the (long-Presse) on the sidelines of a seminar the application of standards of international accounting in Baghdad, said the hotel "Central Bank reserves is changing on a daily basis, based on the central bank's foreign purchases coverage or Foreign Trade and based on Iraq's imports in the oil sector and imports of the dollar, "noting that" did not affect the reserve will not affect in any way in this month's central bank reserves is higher than the previous month and a reserve this is a good sign. "
Keywords adding, that "monetary policy is trying to balance the need for Iraq in the various pieces of foreign currency in the exchange rate which is very important in order to keep the balance of the reserve force coverage of the currency as a cover for the local currency."
He continued Keywords, "We aspire to be the Iraqi economy strength is the real power of the Iraqi dinar and not just buying and selling of currency operations and this therefore needs to be reformed significant economic and plans operations in order to have the Iraqi dinar strongly in the markets," adding that "Iraq if it remained dependent on resources oil as a principal source will remain affected positively and negatively with the rise and fall of oil prices. "
For his part, Director General of the Financial Supervision and member of the Finance Gauger Iraqi Council of Salah al-Nuri behind in an interview with the (long-Presse), the "Council adopted a calibrated international accounting standards accounting and the rest of the countries should adopt in order to unite," pointing out that "Iraq adopts Gauger through the adaptation of international accountant as it deems necessary and therefore Iraq has 14 accounting rule. "
Between and behind, that "the unified accounting system is a tool for easy accountant and a heuristic for the application of Standards and if what has been updated with the international system will be much the Iraqi accountant easy."
It is noteworthy that the central bank confirmed, during the month of January 2015, that the reserves will exceed the $ 80 billion during the first half of the same year, but will not reach $ 100 billion due to weak retail Iraqi oil revenues and through which access to the dollar to strengthen reserves.
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