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Keywords: sell the currency will not close the window in the central and will not print the currency as the former regime did


yota691
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Our economy / Baghdad

Said Governor of the Central Bank of Iraq on the Keywords that he is not ready to close the sale of the currency, which raised around a lot of controversy after being confronted by the central bank charges of mismanagement as a result of adoption of this mechanism in the currency exchange window. 
It also accused private banks as exploited for smuggling and money laundering. 
Keywords and said while attending a panel discussion about the central policy and integrity in the presence of a personal political and economic "It surprised by the statements objected to the sale of foreign currency to citizens by the central bank window fact that Iraq imports dollar and expenditures of state and local currency which requires the central bank to sell dollars to get the local currency to meet the expenses of the State and the dollar can be described with the commodity needed by the citizen and obtained from legitimate outlets and simply as stipulated in the Central Bank of the laws. 
"He Keywords that" many of the measures taken by the Central Bank to control the movement of funds and monitor their movements and their sources and address the mistakes of the past that. 
"and the relationships that only 20% of State expenses in dollars, a foreign expenses for debt and imports ministries and the rest in local currency, revealing the central bank governor that in this year and reached the hypocrisy of the state to 54 trillion dinars, the volume of non-oil imports of which were three trillion local currency and the remaining oil imports in dollars was sold in the local Alasouk to bring Currency local. 
As ills Keywords reason for his refusal to close the sale currency window to reality requirements as described Keywords said "the central bank has no dominance to sell the currency, but rather imposed by reality, and sales volume depends on the size of the request of the State of the local currency, and that the mechanism adopted for the implementation of the Bank's policy Central, which provides cash to curb inflation and to control the exchange rate. With respect to waive the cash reserve with the central bank and media excitement chasing this thing, this Keywords reject al-Qaeda and said that this proposal due to lack of awareness and knowledge of the Iraqi Central policy and between the funds in the central has not reserves but it is a balance of foreign currency paid the local currency and said it flexible monetary mass fall when demand for the dollar and rise when demand for the dollar decline. 
Keywords and said that the study released by the International Monetary Fund predicted the rise of the Central stock of hard currency in 2020 to $ 91 billion the fact that Iraq's imports will rise in the next stage. 
In response to a Question face of the hanger on the identification of a specific timeframe to close the currency sale of dollars in the central bank window replied, "that he once available other outlets to provide the dollar in the domestic market such as remittances from the outside to the inside or the export of goods or attract investment that will cover the market need of hard currency will close sales window. 
and preparations for the central bank to avoid a financial crisis caused by low oil prices in the event of continued decline and if the central resort to printing currency also work in the nineties of the last century the days of the imposition of international sanctions on Iraq and the resort of the former regime to print currency? Keywords that procedure flatly refused and said the central bank laws prohibiting printed currency in this way.

 

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Nice. So it looks like they said they can not print money out of thin air like sadams gov. .last sentence.Also they are not Ready to stop the Bangkok Shins Until there is more money made on sold goods.

Edited by jg1
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Nice. So it looks like they said they can not print money out of thin air like sadams gov. .last sentence.Also they are not Ready to stop the Bank auctions Until there is more money made on sold goods.

. Dam Going to have to stop Texting from my phone
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13415.jpg?width=400&height=300&crop=auto

Iraqi Central Bank building in central Baghdad Imaging (Mahmoud Raouf)

 

Author: AB, ASJ, HH 
Editor: AB, HH 2015/11/29 14:06 Number of Views: 182 

 

 

 

Long-Presse / Baghdad

Decided the Central Bank of Iraq, on Sunday, to continue to "orientations and working mechanisms" to ensure "stability" exchange rate and the adoption of "transparency" in the sale of currency operations, confirmed the adoption of a study to maintain relationships as "a general framework for his work," while the student to enact clear legislation to protect decision-makers from affiliates and give them legal immunity.

The central bank said in a statement received (range Press), a copy of which, "The expanded meeting under the chairmanship of the Central Bank Governor Ali Mohsen Ismail held, today, in the presence of an economic advisor to the prime minister appearance of Mohammed Saleh and Ahmed Rehn Ali member of the Board of Directors and Directors-General of the Bank and a large number of academics and relevant experts in the fields of economy, finance and business. "

The statement added, "The meeting discussed the study presented by the conservative entitled (international reserves and a window foreign currency sale at the Central Bank)," noting that "the study took up a number of pressing issues that the central bank is facing in light of the tense climate in Iraq of the deterioration of oil prices and the decline in revenues , and the high cost of the confrontation with terrorism. "

The statement pointed out, that "the motive for the preparation of the study was the face of arbitrariness and the accusations made against the work of the Central Bank by some of the non-professionals, which found its way into the media and involved a great deal of inaccuracies and misunderstanding and may entail negative effects on the stability of questioning campaigns the market and the expectations of investors, which can be extended to damage to the financial and banking transactions at home and abroad. "

The statement continued, "The study touched upon the review of all the options available to the central bank for the management of international reserves positives each and disadvantages," asserting that "everyone praised the high performance of the Bank's management and to strive to maintain the high reputation and Rsanth and professionalism acquired and that made him at the forefront of government institutions that have not Thanks to address corruption laws and regulations and strict controls that govern his work. "

The statement stressed that "the meeting took a series of recommendations including the continuation of the central bank in its direction and working mechanisms to ensure exchange rate stability and to prevent speculation and the removal of the big differences from the official price and the adoption of full transparency in the sell-through window sell the currency."

The statement stressed that "the recommendations of the meeting also included the adoption of the study submitted by the governor, as well as a press statement published in the new morning newspaper on the tenth of November 2015, as a general framework for the work of the Central Bank and the options available to him and distributed to professionals and the media in order to shed light on the facts and dispel the image blur for the work of the Central Bank of the mechanisms and function of the international monetary reserve and its relationship to both the general budget and the sale of foreign currency sales window. "

The statement said, "The recommendations also included regular meetings along the lines of the current meeting as needed to discuss emerging issues task concerning the work of the central bank."

The statement pointed out, that "the recommendations stressed the need to work to enact clear legislation that unambiguously to protect the decision-makers and those with the powers of the employees of the Central Bank of the charges and conjectures that are harmful to their reputation and the reputation of their institution ancient and issued by some of the parties either because of ignorance or political self-interest motivated and give them immunity Legal enjoyed by their counterparts in the world's central banks. "

The Central Bank of Iraq confirmed, in (November 22, 2015), to continue the investigation in the late National Congress leader Ahmed Chalabi, files, and as pointed out directing inquiries to government agencies each sent their answers, he pointed out fining banks reported files Chalabi after investigation.

The Supreme Judicial Council announced, in (the tenth of this November), for receiving the documents Chairman of the Finance Committee of the late Ahmad Chalabi, submitted by the head of institution-range of information, culture and the arts, Fakhri Karim, as decided the composition of the investigative jurisdiction to consider those documents, he noted that the public prosecutor will appear before the investigative panel to express his requests and follow-up.

Referred to the institution (range) have begun to (the seventh of November 2015), disclose the files of corruption, which was the leader of the late National Congress, Ahmad Chalabi, intends exposed to public opinion, also published a new file for a money transfer companies that deal with the Central Bank of without being registered in the Ministry of Commerce.

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hahahhahaha   j g  1    I  had  too double  read   {  what  do  the bankok shins  have  that we don`t   :shrug:   :lol:  }   Y o t a   dang  man  you know  you can  sleep  some times  my friend !    this  posted  at  2.oo  a.m.   <-------   now  is every one  thinking  the same thing I am  ?  here  lately  I have awaken  around   --- 2.22  in the morning  {  no kidding  3 or 4 times  }   could  yota have  super  duper  powers  that  are  telling him  2 too  1  values  ?  :peace: 

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hahahhahaha j g 1 I had too double read { what do the bankok shins have that we don`t :shrug::lol: } Y o t a snag man you know you can sleep some times my friend ! this posted at 2.oo a.m. <------- now is every one thinking the same thing I am ? here lately I have awaken around --- 2.22 in the morning { no kidding 3 or 4 times } could yota have super duper powers that are telling him 2 too 1 values ? :peace:

I think I was half asleep it was like 1:40 in the morning when I posted that greg

This is important I am surprised more people Are not reading it

Edited by jg1
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