Advisor Dr Mohamed Saleh: get out of the financial crisis will require innovative recycling capital
Adviser
said that the Central Bank of Iraq emerge from the global financial
crisis requires strong creative recycling of capital.
The appearance of Dr Mohamed Saleh told the independent press (Iba)
said Saturday that the oil countries in the region accumulated
financial assets resulting from the oil revenues approximately 1.3
trillion dollars between the years 2004 - 2008 real annual growth rates
stood at 6 percent, and this has been reflected on the sustainability
of life for 14 million foreign workers in the region, annual
remittances amounted to about 40 billion dollars.
He said despite the fall in oil prices of $ 147 per barrel to
approximately 50 to 60 dollars in the latter half of the year 2008
until the present time, the countries of the Middle East has been the
best performer among the international groups that have been the
quantities of exports to the exodus of capital.
He saw the benefit of the interests of the countries of the region will
face a change which would permit a strong attractive force on the oil
stick to the interests of European-wide strategy in the international
competition. Adding that such will make the enticements of the oil at
the lowest point.
The benefit of the central bank is to determine
the relationship of the Iraqi dinar currency other than U.S. dollars,
or whether other, and the dollar area of Iraq, considering that 95% of
its income from foreign currency is one of the oil, the oil market is a
market in the world, mainly U.S. dollars.
It should be noted that Iraq had affected the global financial crisis
by reducing the overall amount of the general budget of the State due
to the decline of oil prices globally.
http://209.85.227.132/translate_c?hl..._4weqCTvnhwj4g
Adviser
said that the Central Bank of Iraq emerge from the global financial
crisis requires strong creative recycling of capital.
The appearance of Dr Mohamed Saleh told the independent press (Iba)
said Saturday that the oil countries in the region accumulated
financial assets resulting from the oil revenues approximately 1.3
trillion dollars between the years 2004 - 2008 real annual growth rates
stood at 6 percent, and this has been reflected on the sustainability
of life for 14 million foreign workers in the region, annual
remittances amounted to about 40 billion dollars.
He said despite the fall in oil prices of $ 147 per barrel to
approximately 50 to 60 dollars in the latter half of the year 2008
until the present time, the countries of the Middle East has been the
best performer among the international groups that have been the
quantities of exports to the exodus of capital.
He saw the benefit of the interests of the countries of the region will
face a change which would permit a strong attractive force on the oil
stick to the interests of European-wide strategy in the international
competition. Adding that such will make the enticements of the oil at
the lowest point.
The benefit of the central bank is to determine
the relationship of the Iraqi dinar currency other than U.S. dollars,
or whether other, and the dollar area of Iraq, considering that 95% of
its income from foreign currency is one of the oil, the oil market is a
market in the world, mainly U.S. dollars.
It should be noted that Iraq had affected the global financial crisis
by reducing the overall amount of the general budget of the State due
to the decline of oil prices globally.
http://209.85.227.132/translate_c?hl..._4weqCTvnhwj4g