Two Experts For {Al -Sabah}: Cash Reserves For Iraq {Reassuring}, 1 FEB

Two Experts For {Al -Sabah}: Cash Reserves For Iraq {Reassuring}
 
Economic 2025/01/30  Baghdad: Shukran Al –Fatlawi  Two economic experts saw that the current monetary reserves owned by Iraq are "reassuring" and are the best compared to previous years.
 
Iraq ranked third in the Arab world with foreign exchange reserves for the year 2024, after both Saudi Arabia and the UAE. Academic Dr. Nabil Al -Marsoumi told Al -Sabah:

“Iraq ranked third in the Arab world in terms of foreign exchange reserves for the year 2024, pointing out that despite the slight decrease in the foreign cash reserves in the Central Bank of Iraq from (109,153) billion dollars in the year 2023 to the year to 2023 to (106.7) billion dollars in the year 2024, according to the data of the Central Bank of Iraq, as a result of the operations of deducting remittances for the Iraqi government,
 
but the financial situation in Iraq is still coherent, and
 
it ranks third after both Saudi Arabia and the UAE, which is the reserve rate in them (499) billion A dollar for Saudi Arabia and (210) billion dollars as a reserve for the Emirates. He added that
 
Currency reserve
 
the country has large cash reserves, which is greater than 100 percent of the size of the exported currency,
 
usually the percentage of a country like Iraq that maintains  cash reserves equivalent to between 20 to 40 percent of the size of the currency exported in positive, indicating that
 
the financial situation is reassuring that it exceeded 100 percent
 
Therefore, the cash reserve in the country is very large, pointing to the importance of the matter, as
 
it represents a wall in the face of crises that can happen, even if it is caused by the low price of oil.
 
Deduction
 
And that the central bank can provide a great protection for the Iraqi government if it needs some financial supplies by deducting transfers from government banks, pointing out that  the financial situation in the country is among the most prosperous years in terms of foreign cash reserves. 

And that  this contributes to

     reassuring foreign investors and
     providing a safe investment environment and
     maintaining the fixed tie price that Iraq adopts for the dinar against the dollar, pointing out that
 
the monetary stability of any country is a very important goal in attracting and reassuring foreign investors, as well as its work in promoting local investment in particular The central bank has initiatives, especially those related to housing and sustainable development movement initiatives.

Third place
 
Al -Marsoumi stated that Iraq's third place in the Arab world in terms of possessing foreign cash precautions is very important, for economic reasons at the forefront, helping to maintain the value of the local currency at a fixed price, and maintain liquidity to fulfill international financial obligations, as well as financing internal projects and reassuring investors Not to mention the diversification of investment portfolios.
 
Financial stability
 
For his part, the researcher on economic affairs, Imad Al -Mahmoudawi, in Al -Sabah, the
 
cash reserve of any country, considered a source of financial stability, and a repetition of any financial storms that the economy can face, pointing out that it avoids financial pressure and revives sustainable development. He pointed out that the
 
cash precautions are defined as money that can be
 
     kept to face crises and
     meet the needs, without the need to borrow, as well as it
     helps in preparing flexible financial strategies that enable the country to carry out projects with flexibility and confidence,
 
pointing at the same time to the need for multiple sources of income and not to keep On the oil material as an essential source of income to increase precautions and achieve sustainable development that is in the interest of Iraq and its children. It is noteworthy that the
 
monetary reserve is defined as the total deposits and bonds of foreign currencies that central banks and cash authorities in the state are kept,
 
in order to
 
     support the local currency and
     pay the debts owed by the state, and
 
the cash reserve is usually consisted of elements, which are foreign currencies, such as the
 dollar  The  euro, Japanese yen and  other currencies, or what central banks possess of gold.    
https://alsabaah.iq/109314-.html