Parliamentary Finance: The Federal Government is trying to dominate the monetary policy of the Central Bank of Iraq

08/04/2012 10:57

Baghdad, April 8 (Rn) – criticized the Finance Committee, the parliamentary day, Sunday, the General Secretariat of the Council of Ministers and its attempts to dominate the monetary policy of the Central Bank of Iraq and curbing the powers of the province, noting that this was a violation of the constitution and a danger to the Iraqi economy. A member of the Committee Faleh applicable told the Kurdish news agency (Rn) that… “the Council of Ministers wants to engulf the monetary policy within its terms of reference also adopted some of the failed policies as the services and the delivery of electricity and some aspects of other service,” adding that “there are attempts to interfere in the work of the Central Bank as an independent body responsible for formulating monetary policy of the Republic of Iraq. ” The effect that “there is a new book released by the Secretariat addresses the governor that he can not draw the monetary policy only through the decisions of the Council of Ministers, and this is to involve and overcome the new Constitution and monetary policy,” stressing that “if the government intervened monetary policy, there will be a major threat to the Iraqi economy looming and the independence of the authorities and independent bodies, which explained the Constitution and the duties of each of them. ” He described the effect that “This book is a breach large and exceed the public funds, and a first step to overcome the foreign exchange reserve is located in the Central Bank, as the confidence of the world monetary policy and the Iraqi economy based on the size of this reserve. ” and added that “the government is interfering blatant in this section,” explaining that “some of the decisions of the Federal Court is right when she said that the central bank is linked to the government on the management side, but the law’s central bank says The bank is directly responsible for monetary policy of the country. ” From: Yazan al-Shammari, the Open: Fadi Zeidan