The Central Bank of Iraq begins activating the self-management of foreign reserves
The Central Bank of Iraq announced, on Monday, that it has started activating the self-management of foreign reserves.
And the central bank stated in a statement seen by “Economy News”, that it had begun “activating tools for direct communication and negotiation with clients and external correspondents on the Bloomberg and Refinitiv (FXALL, RFQ) platforms.”
He added that this is a simulation of “the latest global developments in using the best executive tools for managing and investing foreign reserves in order to achieve the best returns in trading and investment operations.
Refinitiv Data Platform provides simple web based API access to a broad range of content. … The Refinitiv Trade Discovery product supports banks adopting their own market risk models to comply with the Risk Factors Eligibility Test (RFET) under the Fundamental Review of the Trading Book market risk regulation.
FXall is a foreign exchange aggregator providing electronic trading to banks and brokers using an electronic communication network with headquarters in New York. The company provides electronic trading in the foreign exchange market to institutional clients using straight through processing link
An Economic Expert: Paying Kuwait’s Debts Will Return To Iraq 3% Of Oil Revenues
The economic expert, Safwan Qusay, confirmed, on Monday, that the full payment of Kuwait’s debts will return to Iraq 3 percent of the oil revenues, pointing out that Iraq is able to overcome the budget deficit and pay its foreign debts after the rise in oil prices and the payment of its debts to its neighbors.
Qusay told Al-Maalouma, “Iraq will be able to overcome the budget deficit and pay its foreign debts if the budget is built on the price of 70 dollars per barrel of oil, especially after the devaluation of the dinar against the dollar, which rationalized consumer spending by 20 percent.”
He added, “Iraq is going to pay Kuwait’s debts in full next year, with no less than 600 million dollars, and here 3 percent of the oil revenues that are directly deducted and go to Kuwait’s debts will be released, and these amounts will be a new source of spending or used to pay off external debts amounting to 20 billion dollars.”
And he indicated that “the debt repayment process will reclassify the Iraqi credit and thus move the investment compass and reassure the investor that the Iraqi economy is able to pay off debts and create job opportunities through the investment window.” link
Source: Dinar Recaps
Copyright © 2021 Dinar Chronicles