Legal expert: the Kurdistan region does not have the right to issue its own currency
Legal expert: the Kurdistan region does not have the right to issue its own currency
Monday 25 January 2016 | 13:41
BAGHDAD / … denied legal expert Tareq Harb, Monday, to be the region of Kurdistan the right to issue its own currency, while stressing that the coins issue of the powers of the federal government exclusively.
The war for “Eye Iraq News” that “the Kurdistan region does not have the right to issue its own currency,” noting that the “cash currency issue or alter the powers of the federal government exclusively under the Iraqi constitution.”
He said the legal expert that “the currency of the Kurdistan region will be issued in the event of a mere” paper “without truth value”, adding that “coins must be guaranteed by the federal government and the central bank in order to get a” value “to them.
He called on the Secretary General of the movement’s political development and reform Mohammed Baziyani, on Monday, the Kurdistan Regional Government to issue Banknotes especially in the province to overcome the financial crisis, noting that the issuance of the Kurdish currencies would be a step in the direction of financial independence.
The suffering of the Kurdistan region from a severe financial crisis since the Kurdistan Regional Government has been unable to pay arrears of salaries to its employees since last September, and attributes the territory of the financial crisis officials to the decline in oil prices and the outstanding problems between Baghdad and Erbil on oil files, and the budget and the war against “Daash”. It ended 12
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