Central: Rooms of a regional crisis caused the dinar

30-04-2012 10:00 AM

Detection of the Central Bank of Iraq, that the cause of decline of the Iraqi dinar against the dollar due to the «crisis were deliberately into Iraq, run by Chambers of regional processes aimed at the withdrawal of monetary growth achieved by following the mechanism of double pumping the goods to the inside». saw the Iraqi dinar decline noticeable in value against the foreign currencies, particularly the dollar, as it exceeded the decline 10 points after the price of the dinar exchange 1118 dinars to the dollar is currently worth 1228 dinars. figures indicated the central bank, to «overcome the value of imports to Iraq $ 45 billion last year, two-thirds for the benefit of the Iraqi private sector and the remaining amount of the trade government transactions. While the total trade volume with Turkey $ 14 billion, and with Iran 7 billion and Syria 4 billion, and distributed the rest to exchange with the Gulf States, China, Europe, America, and others. He attributed the observers and government officials and members of the Parliament grounds, to the «intervention of both Iran and Syria in the market sell currencies Iraqi government, and deliberately withdrawing large amounts of dollar to Hvazam on the value of national currencies, which was hit and after the application of economic sanctions, setting back strong and lost half its value from what it was before the sanctions and within a few months only ». and Deputy Governor of the Central Bank of Iraq the appearance of Mohammed in statement to the newspaper «life», that the crisis in Iraq «exporter to the inside of the outside border», pointing to the «points of commercial plots are planning to have created the so-called gaps between supply and demand in an auction of the Central Bank». He stressed that the purpose of these plots is the «emptying Iraq of its reserves of foreign currency, using the economic freedom to manage the interests of free trade any more like a dumping commodity, and therefore we found that the blocks cash in hard currency find its way to the outside under merchandise trade». Saleh revealed, for a «policy to undermine the development in Iraq, and what happened we represent supported the conversion of credit with the private sector for the development of trade, and our involvement as a banker is to maintain the stability of the dinar and the liquidation Dinars through a policy of« sterilization »in exchange for pumping the dollar, which is supposed to be used for goods and services and the financing of foreign trade». He said: «We discovered that part of the money shift, but not to finance the import exaggerated». accused the benefit of regional countries «behind the war of attrition on Iraq», pointing out that this plot «subscribed to countries in the region», including Iran and Syria. He emphasized that «the rate of 75 percent of the Iraqi trade foreign rooted within the region does not come with the countries of origin, but through intermediaries trading, coincided with the suffering of most countries of the region is currently of economic crisis, both in the UAE, Qatar or Iran, Syria, Jordan and Turkey specifically». It pointed out that «the Turkish economy continues to deteriorate after striking the interests of Ankara in the Arab countries after the crisis of Arab spring, and international financial crises and economic sanctions on other countries». Saleh said that Iraq is «the only country in the region, which moves away from the financial crisis and pursue a development strategy comprehensive economic, and the best policy to drain the mass cash are over-import, leading to empty Foaúdah Finance and the establishment of the interests of the financial and economic cross-border ». In regard to those internal involved, Saleh said that of «Commercial Bank of Iraq government» and «Bank of Iraq» and now some its officials tools for the implementation of this plot. On the other hand stands watching as the Iraqi public was unaware of the plot ». He stressed that «people are worried about the exchange rate and not on the future of the country and wealth», stressing the power of the dinar and the economy, but the power of weakness currently facing the drain ». He explained that «Auction currency since its inception in 2004 until today, about the more than $ 200 billion outside of Iraq for the benefit of customers or the so-called system of foreign remittances», pointing to the «transfer of some $ 39 billion in 2011», and expected «increasing amounts transferred this year equivalent to the volume growth in the general budget ». and Deputy Governor of the Central Bank, that the reserves of foreign currency «rose from $ 52 billion to more than 63 billion, the numbers go up and not the reverse has also promoted some of them». and Iraq’s parliament approved budget of 2012 more than $ $ 100 billion, and up from last year’s budget of $ 18 billion.