Parliament: the central bank to “wasted” 312 billion dollars

Parliament: the central bank to “wasted” 312 billion dollars


Parliament - the central bank to wasted 312 billion dollarsMP Burhan Mamouri, Thursday, December 1 / December, the monetary policy pursued by the central bank is solid and caused the waste of hard currency entering the country.

Mamouri pointed out that the auction sale of the Bank’s currency did not achieve the goals that the foundations for it, noting that the auction sold $ 312 billion over the past years have been transferred 80% of which are out of the country.

Said Mamouri, at a joint news conference in the House of Representatives with MPs beautiful Obeidi and Fares Fares, “The economic challenges experienced by Iraq, although some are trying to reduce the danger, but it is very serious challenges and is capable of exposing the country to grave danger no less dangerous than terrorism and other dangerous file. ”

Mamouri added that monetary policy led by the central bank is solid, and cause a great squandering the hard currency entering the country for the sale of oil in the bank was not able to maintain the value of the dinar against the dollar, in addition to a massive inflation in the money supply is currently dinar traded, which amounted to more of 42 trillion dinars.

MP also raised the issue of problems relating to the smuggling of currency and forgery, pointing out that, after nearly 12 years to establish what is known as auctions of government for the sale of the Central Bank’s currency, this auction has been unable to achieve any of the goals that the foundations for which the exception of the provision of liquidity to finance government expenditures Iraqi Dinar

Mamouri He explained that during these long years, selling nearly $ 312 billion in the auction, “It is strange that in this regard the figures available indicate that 80% of them turned out of Iraq.”

Among Mamouri proof that the majority of shareholders, or as they call them Bzbain bank of banks and companies access to their destination hard currency at prices below the prevailing price in the market and out of Iraq in exchange for commercial papers and documents, most of which are not true.

He pointed deputy that Iraq’s imports of oil daily is less than the currency market sales volume, stressing that the central bank resorted to withdrawal from the cash reserve currency instead of the promotion, which fell from $ 71 billion to less than $ 50 billion, according to his tongue.

The MP on the need to monitor the auction sell the currency on the one hand and the introduction of hard currency to Iraq via activation of single-window customs tariff and inventory handling difficult the currency, as well as those who are buying the currency from the auction and the verification of the applications that they provide and the exclusion of non-real control.