The continuing controversy between the Iraqi government and the central bank weakens the value of Iraqi dinar


Did not put the war between the Iraqi government and the central bank is over after. While the Bank approved the deletion of three zeros from the Iraqi currency as part of the policy that the bank decided to follow to keep the Iraqi dinar, the continuing rise in the dollar against the Iraqi dinar, which has now reached to 130 thousand Iraqi dinars for the paper green per one hundred dollars, after the exchange rate Throughout recent years, semi-fixed (120 thousand dinars per green of the paper) has opened the appetite of government intervention wide.
The government accused the central bank and its governor, Dr. Shabibi rebellion against the government’s policies, whether to transfer the central bank to a mere intermediary to convert hard currency or through the bank declined to finance the deficit in the fiscal budget, which amounted to this year’s $ 12 billion of the total budget, which amounted to $ 120 billion.

Iraq’s parliament and through his body announced its full support to the bank to remain an independent body in accordance with the Constitution, while the government and announced across many of its officials and its advisers, the central bank is a government adviser, and therefore does not need to implement its policy.

Process emerged from the circle of artistic controversy between Abu Iraqi banks and the government to go out to the circle of the political debate to return to the fore the story of independent bodies, which opponents say the government, the Iraqi constitution that was evident in the link in parliament.

Leader of the Iraqi List, the decision of the Integrity Committee in the Parliament Khalid al-Alwani warned a deputy of the Iraqi List, from the introduction of the Central Bank under government supervision. Alwani said in a statement obtained by «Middle East» a copy of it today, said that «the Central Bank is one of the independent bodies that are subject to the supervision of the House of Representatives because it protects the Iraqi dinar, which is the property of the people not the government».

He warned Alwani «of the process of entering the Central Bank under penalty of government oversight, calling Balmadmr and very dangerous», pointing out that «his survival as an independent body linked to the Council of Representatives of the best linked to the executive power».

And that «link such as this important body related to the policy of the country Steering Executive would limit the orientation independent to address issues in a flexible and detailed for the problems experienced by the Iraqi economy», pointing out that «the government is working to create a new crisis in order to be able to connect to the Central Bank directly ».

He added that «the Central Bank Law of 2004 stipulates in Article II not to interfere with any party, and especially government parties, and Article 103 of the constitution reads as follows: is all of the Iraqi Central Bank, the Office of Financial Control, and Communications and Media Commission , and the endowment offices, bodies, financially and administratively independent, and the law shall regulate the work of each of them, and the Iraqi central bank is responsible to the House of Representatives ».

For his part, affirmed the decision of the Finance Committee in the Iraqi parliament, Ahmed electrodes told «Middle East», that «the Constitution is clear in linking independent bodies of parliament and not the government and we are surprised by the insistence of the government and the rule of law to speak otherwise, while they are talking more than others for respect for the Constitution ».

The electrodes, a leader of the Iraqi List, that «there is wisdom in linking the Central Bank of parliament and not the government, as it did not come in vain because the government is the point of exchange, and thus there is a possibility to override the Constitution».

On blasted the government of the central bank is the financial adviser to the government, and we must implement its policy, said electrodes «this is not true, not an adviser to Bank One, but it is an independent body, and will continue to defend its independence».

He described everything that is happening against the Central Bank as «a kind of targeting political».