The accumulation of foreign reserves and financing of foreign trade: the specimen Iraq | Iraqi Economists Network | Iraqi economists Network
He finishes the concept of trade finance trade finance to the science that describes the money, banking, credit, investment and asset management for the purposes of international trade, and participation in trade finance parties are exporters, importers, financiers shop car and business insurance and providers of other services and economic shop car .valtarich Iraq talk may Asher correlation evident in the movement of trade finance and the level of accumulation The official foreign reserves of the country. Where fed rentier oil resources during the last sixty years 95% of the country's needs for foreign currency in trade finance, and by not less than 85% in the financing of public budget revenues in the best her years in the last four decades.
The accumulation of foreign shop car currency at the Central Bank of Iraq, which represents international reserves has been through the Ministry of Finance swap of its revenue in dollars, which is caused primarily by Iraq's oil exports to meet with access to Metrgbh of the Iraqi dinar source from the Iraqi Central Bank, to enter the circulation, but through doors exchange in the state budget.
As the Iraqi Central Bank's mission is to maintain the stability of the value of the Iraqi dinar, which has been issued and disposed of mainly through general budget expenses mentioned According to the mechanism referred to above, such a thing has identified trends monetary policy of the Central Bank of Iraq and charged shop car in how to use the dollar Disposable foreign reserve, in order to meet the expenses of the public and the market transactions of which it is derived mainly from government spending shift at a later stage to the purchasing power of the public, however, are traded and spent Kdanar Iraqis in daily transactions.
Thus, it has become the foreign reserves of the Central Bank of Iraq to deal with the direct market shop car pressures and needs of foreign currency shop car prompt, but in the context of maintaining the Iraqi dinar and its purchasing power through a permanent cover of foreign shop car currency. And that such an approach in monetary policy is one of the subsequent business
The key in the implementation of the objectives of the Central Bank of Iraq, especially after the end stage of dealing directly with the fiscal policy in the first stage of the aforementioned (any stage replace the general budget of the Iraqi dinar some government assets of foreign currency and start regardless of the dinar through public Almoisana expenditure needs) to begin the second phase of this time to address the market demand for foreign currency and caused As noted on the final expenditure of the government is the president.
As part of the move towards shop car a market economy and build a strong and stable Mrkizac free economy and as stipulated in the Constitution, the monetary policy is not in a position to deal in a mirror in this next phase, so Baltgavl about the consequences shop car of the public expenditure in the first stage, and put things in a mirror Out of context, through dealing again in addressing the needs of the general budget and fill the deficit in the subsequent financing requirements, but the stability of the market and secretions previous overhead caused to maximize levels of domestic liquidity account.
Since the Central Bank of Iraq and still represents the state bank and trustee of its assets shop car and is an integral part of public finances due to the bonding shop car strength shop car between the general budget and the balance sheet of the Central Bank by virtue of subordination and domination of the financial power of the resolution cash. Where there was one account of foreign currency represents the country all reserves part foreign exchange and revenue from such currency that enters the general budget represents oil revenues mostly recorded its equivalent in the balance sheet of the Central Bank Iraqi dinars shop car source computationally whether shop car the bank records or actual trading to generate cash basis base money and foreign exchange in this case enters in the balance sheet of the Central Bank items On Balance Sheet.
That how the foreign trade financing being (especially finance imports) to the government and the private sector was conducted in accordance with annual trade program preset later named the (foreign trade plan) and was intended mostly to fund public and private imports of Commerce in accordance with the mechanism following:
Thirdly - the commercial parties for opening the adoption by local commercial banks, particularly the Bank of Iraq, after the trader buys foreign currency, shop car whether shop car Bmdkharch which represents its capital or by borrowing a commercial credit granted by the bank to its customer merchant.
Fourth - in both cases, II and III in above the central bank's foreign currency exchanged for a meeting of the Iraqi dinar obtained from the Commercial Bank. In this case, as if the government has to sell foreign currency directly to the merchant imported via the intermediary bank of light is made to cover imports.
Fifth - in light of the militant exchange shop car controls and foreign transfers, the central bank is not authorized in foreign currency sale outside shop car the scope of normal trade finance and travel tourism shop car program, but conditional on the approval of such study expenses alimony shop car own hospitalization and Alttabb outside Iraq and entitlements of airlines and some of the companies operating in Iraq generating profit and remittances from foreign workers. With the offer that the periods in which the heated wars especially the eighties has been resorting to external borrowing and spreading the so-called Order-term due to low foreign reserves that war consumed has covered those agreements by the simple needs of the private sector import, before he is authorized to exercise shop car import policy without external shop car converter that led to chaos in the funding sources and generate a black market exchange rate and wide-funded for these operations shop car Alastair
He finishes the concept of trade finance trade finance to the science that describes the money, banking, credit, investment and asset management for the purposes of international trade, and participation in trade finance parties are exporters, importers, financiers shop car and business insurance and providers of other services and economic shop car .valtarich Iraq talk may Asher correlation evident in the movement of trade finance and the level of accumulation The official foreign reserves of the country. Where fed rentier oil resources during the last sixty years 95% of the country's needs for foreign currency in trade finance, and by not less than 85% in the financing of public budget revenues in the best her years in the last four decades.
The accumulation of foreign shop car currency at the Central Bank of Iraq, which represents international reserves has been through the Ministry of Finance swap of its revenue in dollars, which is caused primarily by Iraq's oil exports to meet with access to Metrgbh of the Iraqi dinar source from the Iraqi Central Bank, to enter the circulation, but through doors exchange in the state budget.
As the Iraqi Central Bank's mission is to maintain the stability of the value of the Iraqi dinar, which has been issued and disposed of mainly through general budget expenses mentioned According to the mechanism referred to above, such a thing has identified trends monetary policy of the Central Bank of Iraq and charged shop car in how to use the dollar Disposable foreign reserve, in order to meet the expenses of the public and the market transactions of which it is derived mainly from government spending shift at a later stage to the purchasing power of the public, however, are traded and spent Kdanar Iraqis in daily transactions.
Thus, it has become the foreign reserves of the Central Bank of Iraq to deal with the direct market shop car pressures and needs of foreign currency shop car prompt, but in the context of maintaining the Iraqi dinar and its purchasing power through a permanent cover of foreign shop car currency. And that such an approach in monetary policy is one of the subsequent business
The key in the implementation of the objectives of the Central Bank of Iraq, especially after the end stage of dealing directly with the fiscal policy in the first stage of the aforementioned (any stage replace the general budget of the Iraqi dinar some government assets of foreign currency and start regardless of the dinar through public Almoisana expenditure needs) to begin the second phase of this time to address the market demand for foreign currency and caused As noted on the final expenditure of the government is the president.
As part of the move towards shop car a market economy and build a strong and stable Mrkizac free economy and as stipulated in the Constitution, the monetary policy is not in a position to deal in a mirror in this next phase, so Baltgavl about the consequences shop car of the public expenditure in the first stage, and put things in a mirror Out of context, through dealing again in addressing the needs of the general budget and fill the deficit in the subsequent financing requirements, but the stability of the market and secretions previous overhead caused to maximize levels of domestic liquidity account.
Since the Central Bank of Iraq and still represents the state bank and trustee of its assets shop car and is an integral part of public finances due to the bonding shop car strength shop car between the general budget and the balance sheet of the Central Bank by virtue of subordination and domination of the financial power of the resolution cash. Where there was one account of foreign currency represents the country all reserves part foreign exchange and revenue from such currency that enters the general budget represents oil revenues mostly recorded its equivalent in the balance sheet of the Central Bank Iraqi dinars shop car source computationally whether shop car the bank records or actual trading to generate cash basis base money and foreign exchange in this case enters in the balance sheet of the Central Bank items On Balance Sheet.
That how the foreign trade financing being (especially finance imports) to the government and the private sector was conducted in accordance with annual trade program preset later named the (foreign trade plan) and was intended mostly to fund public and private imports of Commerce in accordance with the mechanism following:
Thirdly - the commercial parties for opening the adoption by local commercial banks, particularly the Bank of Iraq, after the trader buys foreign currency, shop car whether shop car Bmdkharch which represents its capital or by borrowing a commercial credit granted by the bank to its customer merchant.
Fourth - in both cases, II and III in above the central bank's foreign currency exchanged for a meeting of the Iraqi dinar obtained from the Commercial Bank. In this case, as if the government has to sell foreign currency directly to the merchant imported via the intermediary bank of light is made to cover imports.
Fifth - in light of the militant exchange shop car controls and foreign transfers, the central bank is not authorized in foreign currency sale outside shop car the scope of normal trade finance and travel tourism shop car program, but conditional on the approval of such study expenses alimony shop car own hospitalization and Alttabb outside Iraq and entitlements of airlines and some of the companies operating in Iraq generating profit and remittances from foreign workers. With the offer that the periods in which the heated wars especially the eighties has been resorting to external borrowing and spreading the so-called Order-term due to low foreign reserves that war consumed has covered those agreements by the simple needs of the private sector import, before he is authorized to exercise shop car import policy without external shop car converter that led to chaos in the funding sources and generate a black market exchange rate and wide-funded for these operations shop car Alastair
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