On behalf of Iraqis: The currency auction threatens to bankrupt Iraq and must be stopped

On behalf of Iraqis: The currency auction threatens to bankrupt Iraq and must be stopped

11/24/2020 13:15:12

On behalf of Iraqis - The currency auction threatens to bankrupt Iraq and must be stopped{Baghdad: Al Furat News} The representative of the Iraqi coalition, Zahra Al-Bajari, considered the currency auction to the Central Bank of Iraq as a threat to bankrupt the country.
“The currency auction greatly affects the economic situation and the Iraqi economy in general, because this is a hard currency that goes out of Iraq,” Al-Bajari said.
She added, “The Financial Deficit Financing Law recently approved, referred to the window for selling the currency,” indicating that the law called on the Council of Ministers to automate the tax and customs system and import licenses and to link all units subject to tax and customs to an electronic system immediately, and to collect customs duties for imported goods on the basis of what It was sold from the foreign currency through the window of selling the currency or documentary credits to importers of goods, provided that the differences are settled after entering the imported goods and audited by the concerned authorities in order to prove that the imported materials are real in their purchase and with receipts and are located inside Iraq and there is no smuggling of currency and pressure on The Iraqi economy. ”
And called “the Economic Committee in Parliament to follow up this issue as it is at the core of its competence because this issue is very important to preserve the national economy and the existing currency because Iraq will declare bankruptcy due to borrowing and the daily currency auction.”
Al-Bajari demanded “to stop this auction because it affects the Iraqi economy greatly, and we will have a pause on this issue, especially as it is trading in the halls of parliament and among the MPs interested in it.”
And a member of the Parliamentary Integrity Committee, Kazem Al-Sayyadi, revealed yesterday, Monday, enormous money that had been smuggled by the corruption of the currency auction of the Central Bank of Iraq.
Al-Sayyadi told Al-Furat News that “the question of the head of the Parliamentary Wisdom Bloc, Faleh Al-Sari, to the Governor of the Central Bank was accurate; but unfortunately, the answer was inaccurate and vague and we noticed a favoritism for banks at the expense of the Iraqi people, behind which political forces stand to steal people’s money,” he said.
He added, “The governor was confused and unconnected in the answers, and we hosted him in the integrity committee. His answers were inaccurate, partial expressions, and inaccurate solutions that betrayed an uninformed personality.”
“The Central Bank and the Ministry of Finance are a crime that contains several crimes, including hiding the currency market and selling it to private banks,” Al-Sayyadi said, explaining, “The Central Bank allocates millions of dollars to private banks and when searching for their assets, we find that they are weak and not the amount of money allocated to them.”
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