Central Bank announces the rise of foreign exchange reserves to 62 billion dollars
Economy News _ Baghdad
The Central Bank of Payments (CBE) Director-General Doha Abdel-Karim announced on Tuesday that foreign exchange reserves rose from US $40 billion to US $62 billion, while confirming the bank's success in controlling inflation.
"The central bank has managed to control the level of inflation, maintain prices, maintain the purchasing power of the national currency, adjust the exchange rate and close the gap between the official price and the market price," Abdul Karim said in an interview with the official newspaper Al-Sabah.
"Foreign currency reserves have increased from US $40 billion to US $62 billion and diversification of the currency basket to support the balance of payments and to cope with economic crises," she said.
It also coordinated with the Ministry of Finance in the management of public debt to support the budget and funding the deficit during the financial crisis experienced by Iraq because of low oil prices, the issuance of national bonds in the international financial market worth $2 billion, as well as the provision of new products to invest liquidity of commercial and investment banks And support their profitability."
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