Parliamentary warnings of manipulating central bank reserves

Parliamentary warnings of manipulating central bank reserves

Wednesday 30 September 2020 | 03:14 PM

Parliamentary warnings of manipulating central bank reservesA member of the Parliamentary Finance Committee, Ahmed Hama Rashid, warned, on Wednesday, of depleting the reserves of the Central Bank, and then the Iraqi economy was affected .

Rashid said that “the volume of monetary reserves in Iraq, whenever it decreases, it weakens the Iraqi currency,” adding that “this will gradually weaken the price of the currency .”

And he warned of “weakening the Iraqi economy, especially that Iraq needs to import, and consequently, pandemic inflation .”

It is noteworthy that the committee expressed its surprise at the issuance of a book by the Ministry of Finance calling for the enactment of a law to borrow to pay the deficit in the salaries of employees, warning against mortgaging the future of Iraq by relying on borrowing.

aynaliraqnews.com