Central Bank denies the dinar exchange rate adjustment and confirms: proven budget
Central Bank denies the dinar exchange rate adjustment and confirms: proven budget
2016/01/09 20:19
Long-Presse / Baghdad
Denied Bank of Iraq to a central, on Saturday, his intention to edit the dinar exchange rate, and in attributing it to install its price in the budget agreement with the Government and the IMF, and not to damage citizens, counting to address the financial situation must be the promotion of sectors “real”.
The Monetary Policy Committee of the Central Bank, in a statement received (long-Presse) a copy of it, “The Bank has no intention of modifying the dinar exchange rate,” returned to “what is declared by the otherwise from any person or entity does not have considered, especially after the Price has been installed in the budget agreement with the Government and the International Monetary Fund. ”
The Commission added that “the central bank is well aware that any reduction in the value of the dinar meant damaging the purchasing power of citizens because most of their needs are imported,” asserting that “address the financial situation must be the advancement of the real sectors”.
She’s Monetary Policy Committee, that “the central bank initiative to provide loans for the promotion of these sectors constitute a signal and an incentive for the promotion of these sectors,” emphasizing that “the Iraqi Central Bank management is the only body authorized, according to the law, determine the exchange rate and every statement in this regard does not issue it is confusion and confusion to the market. ”
The local economic actors called for the amendment of the dinar exchange rate against the dollar, to counter the impact of the economic crisis that the country is currently taking place as a result of decreased world oil prices.
The Council of Ministers stressed, during its regular, which was held in, (the 25th of August 2015 the past), allocated five trillion dinars for the revitalization of agriculture, industry and the housing sector ‘while announced Iraqi Economists Association, on the same day, for the central bank to grant for 23 bank loans waged, to support small and medium enterprises in the country, indicating that it will support the private industrial sector and reduce the unemployment rate and imports.
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