Muhammad Ali said (of the Agency news): The foreign reserves of the Central Bank currency is an asset for an emergency on the one hand and also cover the local currency of the other hand and the lid is an international reliability and this is what makes the preservation and development necessary.
He stressed: not to use it only when absolutely necessary, ie to lend to the government at the time of salt fiscal deficit in the state budget finances.
He added: parts of it, can be invested in investment portfolios are almost guaranteed European central banks, either incorporated in the local projects it is a major economic risk that this process is not the prerogative of the Central Bank of Iraq.
He pointed out: that the return on investment at European banks are for the development of the reserves and not to spend within the local budgets, except in cases necessary. / End / 8.'s. M /
Link