Central Bank: Auction currency sterilize the monetary mass massive
Central Bank: Auction currency sterilize the monetary mass massive
4/11/2017 0:00
BAGHDAD / Hussein Tgb
much talk raised on the sale of dollar window and drain it of hard currency in the local markets, in contrast is described by the Central Bank of the “sterile” monetary bloc and irreplaceable in the light of the economic situation that Iraq is going through.
Director General of the financial operations of the Central Bank of Iraq d. Mahmoud Mohammed said: ” The window of dollar selling has two sides first technician is Sterilize monetary mass where the swap dollar amounts massive dinars resulting from the spending budget and debt, pointing out that not to withdraw this amount from the markets , causing a massive rise in prices, and that the window sterilization cash in light of the low financial level of the overall economy.
he noted that the absence leads to a significant deterioration of the economy for my country from the technical side we did not find who gives the alternative viable for selling dollar window. prices stable and between Mohammed said the other side is difference price and this is being focused on , Walk Ra that the recent measures that began in February of this year could facilitate results and reduced exchange rates at the borders suit the central targets to reach a stable and constant prices. He pointed out that the political and security risks in Iraq , causing instability , which leads to higher demand for the dollar and convert existing real to the dollar, indicating that the central bank continues to develop the electronic ones his tools in order to keep its goals as well as maintaining Mtsuiat price acceptable. His statement entry and reiterated: that the window under the current circumstances , there is no alternative to it, indicating that the problem we suffer not borne in force But exclusively its border ports responsibilities in this important aspect, stressing that set the ports and that the amounts correspond to the type of material with what goes to Iraq , leading to the end of the problems when you give ports declaratory entry in agreement with what the trader provided here can eliminate the problems. Economists in more demanding than one occasion the need to cancel the sale dollar window and they consider the drain on hard currency in Iraq because of a defect in the offers of purchase orders to sell the dollar window, because it – according to experts – amounts greater than the need for local markets of various goods. Currency exit specialist in economic affairs Ahmed expensive stressed in an interview with the “morning” on the necessity of ending the words that raised about the auction process through real activation of the productive sectors in Iraq, which in turn will provide various goods that meet a large proportion of the need for local markets , thus reducing the exit hard currency from Iraq. Activating plans and pointed to the possibility that the national economy is a magnet for money bigger than coming out of it by activating plans that promote the national economy and the most important industrial strategy and the strategy of the development of the private sector rates, as well as the agricultural sector , which is the oil Daima.maclv between Iraq has the potential of development that make it able to achieve a multiplicity of financial resources and be more organized financial sector, stressing the need to start work on the development of rapid supplier that contribute to supplement the federal budget sectors.
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