Vice criticizes the central political waste in hard currency reserves
Vice criticizes the central political waste in hard currency reserves
02.11.2016 9:26
[Where – Baghdad]
criticized member of the Committee of Economy and Investment parliamentary Engineer Burhan Mamouri, on Wednesday, the monetary policy followed by the Central Bank of Iraq, which led to a huge waste of the financial reserves of the Central Bank.
Among Mamouri in a statement received by all of Iraq [where] a copy of it today, that “there is information indicating that the reserve current central bank up to $ 40 billion or less after hitting the $ 78 billion in 2013″, criticizing ” the central bank ‘s policy to sell currency, which led to a huge waste in the reserve of hard currency. ”
he said that” the central bank policy of selling the currency led to a huge waste in a financial reserve of the bank after the dollar in the local market price reached more than 1,300 dinars to the dollar, while the official selling price of the bank rate does not exceed 1200 dinars to the dollar. ”
the member of the economic and investment commission he” was supposed to be there is an increase in the reserve ratio of foreign currency at the central bank as shall receive a percentage of profits to sell the currency , but we see the opposite , “calling “Bank to follow a new policy to sell the currency through the open window for direct sale to the citizens and at the price prevailing in the market and achieve the benefit for the general budget of the state.”
he noted a member of the economic and investment commission that “he will be hosting the central bank governor and directors of state banks in the coming days for clarification about the causes of decline of dollar reserves and its high price. ”
alliraqnews.com
