BEIRUT (Reuters) - Iraqi Central Bank Governor Sinan al-Shabibi said on Thursday the country was making solid progress in reforming its financial sector despite the ongoing violence and had enough reserves to defend the currency.

"I can say that we are succeeding in maintaining a stable financial situation in Iraq," he told Reuters at the Arab Economic Forum in Beirut. "This level of reserves is helping us keep the currency exchange rate stable."

Shabibi said net foreign reserves stood at $10 billion, up $2 billion since January, meeting the target set under an IMF program.

Once the security situation improves, he argued, Iraq "would not just be able to keep a stabilized economy, but also to make more progress."
http://today.reuters.com/news/newsAr...IRAQ-CBANK.xml

I know, more good news......
Things are heading in the right direction, despite what the ol' t.v. wants to tell ya. Good news don't increase ratings ya know.
Psycho4Bud Reviewed by Psycho4Bud on . Iraq banking reforms are on track: central bank BEIRUT (Reuters) - Iraqi Central Bank Governor Sinan al-Shabibi said on Thursday the country was making solid progress in reforming its financial sector despite the ongoing violence and had enough reserves to defend the currency. "I can say that we are succeeding in maintaining a stable financial situation in Iraq," he told Reuters at the Arab Economic Forum in Beirut. "This level of reserves is helping us keep the currency exchange rate stable." Shabibi said net foreign reserves stood at Rating: 5