To resolve cash crisis Iraqi Kurdistan region $85m to bank
To resolve cash crisis Iraqi Kurdistan region $85m to bank
18 Feb 2014
Business persons and investors of the Kurdistan region of Iraq have given $85m to the Central Bank of Kurdistan to help resolve the region’s cash crisis. It has been stated that the money will be used for paying salaries to the employees. Teachers, laborers and some other workers have been on strike after weeks of delayed salaries.
According to the Iraqi Kurdish officials, the crisis has taken place when central government of Iraq did not send money to the Kurdish government. Leaders in Baghdad say the money has now been sent. Arbil and Baghdad are still locked in a dispute over Kurdistan’s independent oil exports.
Kurdish officials say Baghdad still owes the region billions of dollars in unpaid expenses. But the central government says Kurdistan has not calculated its expenses accurately. Iraq’s Kurdish deputy finance minister, Fazil Nabi, has resigned from his post due to Baghdad’s delay in paying Kurdistan’s salaries. But Iraq’s central government says the problem is simply because paying in cash is an outdated method.
iraqdirectory.com
