Shabibi: the government seeks to control the financial reserve!!!

Shabibi: the government seeks to control the financial reserve

11/09/2012 (23:00 pm)

 Baghdad / AFP

Rejected Iraqi Central Bank Governor article Shabibi charges against him, especially including “mismanagement of funds and failure to work”, adding that government authorities have threatened the independence of the Bank in order to reach its reserves.
remarks came Shabibi weeks after being sacked from his previous warnings against him and against the state banks another which considered diplomats and analysts as they come in the context of seeking to control the bank by Prime Minister Nuri al-Maliki, who has denied his office and standing behind it.
Shabibi said in a telephone interview from Geneva with AFP “They were trying عزلي since 2009, and they want money from the reserves,” the bank Central. “I think that the main problem … is essentially a reserve, because they believe that we have a lot of reserves and they want to use for funding.” “The government wants money from the central bank … and the Central Bank Law does not allow it.” “Definitely say there are differences in policy rates of exchange. Do not think that these differences require dismissal of the central bank governor.”
In response to a question on the impact of threats and accusations against him and to other officials on the independence of the Bank, Shabibi said “definitely yes.”
and refused Shabibi revealed Name any government official, but noted that “they were talking constantly about how they must supervise the monetary policy and they must decide many many many of these politics, and all these things.”
and described Analysts Shabibi (70 years), who extended his two decades in the United United and governor of the Central Bank since 2003, as a technocrat struggled to maintain the independence of the Central Bank of Iraq.
and said Shabibi that he intends to return to Iraq to face the charges against him, after the cancellation of the arrest warrant against him, pointing out that the government can not be sacked because this is still validity of Parliament.
also rejected Shabibi accusations currency manipulation and mismanagement, compared change slightly in the value of the Iraqi dinar against major changes in the value of the dollar or the euro.
Shabibi said have “I told them (ie the government) that the central bank was not the reason for this volatility, this part of the average … and we have been successful in eventually achieving stability of the exchange rate, and the difference of 2 or 3 percent. ” “I told them, just go to Europe now and see the difference” in exchange rates. He added that “they realize the stability of the exchange rate (in recent years) and then used it against the Central Bank. They did not find any mistakes or problems they said this is a problem and described it failed the Central Bank.”
and said he did not know how long the accusations against him, but added “Let them wait and see,” he said, adding his confidence in his style.

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