Deputy central bank governor denies the government’s accusations that the auction cause of the low exchange rate of the dinar

On: Saturday 04/14/2012 17:42

Chairman of the Chamber of Commerce of Babylon’s (Citizen): lack of experience in government advisers led to the deterioration of the economic situation of the citizen – Ali Shaker Royal detection Advisor to the Prime Minister for Legal Affairs Fadel Muhammad from the conversion of more than $ 200 billion out of Iraq by the Central Bank auction to support a fixed rate for the dinar exchange . And denied the deputy governor of the Central Bank of the appearance of Mohammed Saleh accused adviser to Prime Minister Fadel Muhammad of the Central Bank that the procedures for…
the auction to sell the dollar is the reason for the low exchange rate of the Iraqi dinar. The head of the Chamber of Commerce of Babylon Engineer Sadiq Hashem Afaihan Mamouri lack of sufficient experience with economic advisers in The Iraqi government has led to instability in the monetary policy in Iraq. He explained in a statement (citizen): If left the country under a policy of political consensus, all the facilities of the State s going to lag and inertia to Atianha with people incompetent and do not have sufficient experience which qualifies them in the administration, and that the Iraqi state After changing the system were not based on economic efficiencies of large and efficient management of the economic file the correct form of Iraq and began to be subject to Mhassat abhorrent that the pain is not brought to the Iraqis and their suffering increase Bartqa people to positions they are not worthy of their management under the principle of the wrong person ..The Iraqi economists have no role in solving the economic problems did not give them none of this role as well as economic advisers in the Iraqi government do not have experience in the management of the Iraqi economy, despite the passage of more than eight years on the Iraqi experience of modern, but the politicians did not benefit from their experiences and has continued to insist on the principle of consensus is fruitful in the wheel of economic development. He ..Ruled out that there are mafias manipulate the economy of Iraq, as happened recently in the fall in the value of the Iraqi dinar against the dollar and attributed the reasons behind this policy, and the retreat of the Iraqi currency against the dollar has several reasons related to the political situation and political differences between the parties as well as other economic causes .. Indicating that the first reason for this related to the management of the Central Bank, noting that he was selling foreign currency to companies without a clearance from the tax, prompting a lot of these companies to refrain from buying the currency and thus less supply to increase their prices. He denied that there are mafias control the money of Iraqis. . But there are political reasons behind this issue and the cause of decline is one of the attempts to thwart the government (as described), indicating that the political repercussions on the Iraqi arena and recent statements by some officials and the issue Hashemi reflected directly on the economic side of the state and the only way to recover Iraq’s political situation and economic situation is an agreement by decision-makers in politics now working to address political issues. saw the Iraqi dinar exchange rate declined significantly over the last few days against the U.S. dollar up in the local markets to 126.5 thousand dinars for the paper category percent dollars. Fadel said for {Euphrates News} that “nothing in the world today, a central bank continues to hold auctions and pumping the dollar to support the fixed exchange rate of the dinar,” noting that “the fact that this new experiment has appeared with errors and therefore benefited the people who are not traders.”He continued, “We buy the dinar and give the dollar amounts and turn this auction to abroad through remittances.” He added that “there are people who took part in the auction the central bank, they are not really traders did not go these amounts for the purposes of the state and the private sector and cover the needs, but I went into the pockets of speculators and smugglers, and they became the beneficiaries of these funds allocated to the projects of the people and well-being.” The Fadel that “there is a representative of the bank is the bank governor, a member of the Economic Commission.” Said Saleh told {Euphrates News} that “the monetary policy pursued by the central bank thought a good way and that every step is subject to a thorough examination so that taking such a step does not is no effect on the economic reality of the country. “and added that” the decline in the price of the Iraqi dinar against foreign currencies are not related to the issue of public auction of the U.S. dollar by the Central Bank, “noting that” monetary policy in Iraq are exposed to a lot of pressure and a very strong . “He was an adviser to Prime Minister Fadel Muhammad accused the central bank being the reason behind the decline in the exchange rate of the Iraqi dinar against the U.S. dollar due to actions by public auction followed by the central bank to sell foreign currency. saw the Iraqi dinar exchange rate declined significantly over the last few days against the U.S. dollar up in local markets to 128.5 thousand dinars to the category of percent dollars. called “Adviser to the Prime Minister to seek the real reasons behind the low exchange rate of the dinar against the U.S. dollar and not blame the central bank.

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