Iraq Has Large Amount of Hard Cash Reserves: Finance Committee

Iraqi Dinar 123 News:– On Tuesday, the Iraqi Parliamentary Finance Committee has confirmed that Iraqi Central Bank has significant amount of hard cash reserves and it will be used to support the Iraqi dinar currency, which will increase in the exchange rate of Iraqi dinar currency. He also pointed out that state treasury was empty when current government took charge of state treasury. The Iraqi Finance Committee member Masood Haider also added that Iraq has large amount of hard cash reserves and it will be used to stabilize the Iraqi dinar currency which will empower the strength of Iraqi currency.

He further said that when current government took charge of state treasury, it was in a critical stage because state treasury was totally empty. The previous Iraqi government left nothing in state treasury of the country. Only one billion U.S dollars were found by the Ministry of Finance in the treasury assets. But current government and Iraqi Central Bank worked very hard to empower the Iraqi economy and to stabilize the exchange rate of Iraqi currency. Now the Iraqi economy and its currency is considered more secure and stable to meet the international challenges. Masood Haider also said that Iraqi government should take some major and important measures to boost up Iraqi economy by increasing financial sources to manage the fiscal year budget. It is important that Iraq mainly depends on its oil exports.

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