A parliamentary warning against seizing Iraq’s balance in the Central Bank and banks
A parliamentary warning against seizing Iraq’s balance in the Central Bank and banks
Monday 16 November 2020 | 03:10 pm
The Parliamentary Finance Committee warned, on Monday, against an international seizure of Iraq’s remaining balance in the central bank and governmental and non-governmental banks, following a government move to print the local currency without a parallel balance in the bank .
A member of the Finance Committee, Abdul Hadi Saadawi, said that “the danger facing Iraq at the present time after borrowing is the government’s intention to print the local currency instead of borrowing without a parallel balance .”
He added that “this step will push to seize Iraq’s money in the central bank and governmental and non-governmental banks and freeze it due to the lack of balance,” indicating that “this step will paralyze Iraq completely .”
Saadawi said, “The House of Representatives is required to follow up the matter with the government and prevent it from any direction with this step because it has great economic damage to Iraq that is more dangerous than borrowing.”
aynaliraqnews.com
