Economic Adviser to the servants, high dollar prices because of Article 50 of the Budget

[yota691]

Economic Adviser to the servants, high dollar prices because of Article 50 of the Budget

19/04/2015 06:26 | Number of Views: 7573

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BAGHDAD / Source News / .. Economic Adviser to the Prime Minister revealed the appearance of Mohammed Saleh, Sunday, that one of the reasons for the high dollar prices back to Article 50 of the current budget, which identified the central bank to sell less than 75 million dollars a day in the auction law.

Saleh said in an interview I followed Agency / Source News / "After identifying the auction of certain quantities of operations led dollar selling to the emergence of a new market for the sale of a parallel dollar auction a controlling operations selling currency based on false rumors to raise prices and make a speculation in the market," he said, adding "It should be on the government to put processors for this article, which restricted the work of the Bank and led to higher dollar prices during the last term."

Economic Adviser to the Prime Minister and the likely "Undo the US dollar against the Iraqi dinar," stressing that "the government will take measures to address the situation in coordination with the Central Bank."

The Prime Minister Haider al-Abadi called for the central bank to control the Iraqi dinar exchange rate against the currencies Alajunbah.anthy T.

 

[jobug38]

I'm wondering what the "UNDO" in this statement means?

[Boozer]

This talk about the Dinar against the Dollar has been going on for years.. All Talk and never any ACTION ! 

[Laid Back]

I believe this is a CBI strategy to collect more 000's notes

CBI continue reducing the note count to 1 billion goal.

[SnowGlobe7]

no need for any lower doms if they RV this thing to one to one

[SocalDinar]

Yep

Article 50 Is the cause. Quite the economic experiment.

[djgabrielie1]

[blueskyline]

Likely "undo the us dollar to the iraq dinar" . Is this a deppegging ? 

[sandfly]

THANKS

[Catluver67]

Bump...

Sounds like Saleh is talking depegging from the USD...

[yota691]

Talks and the Ministry of Finance and the delegation of the International Monetary Fund

IMF supports Iraq with the help of a financial emergency to cope with the current crisis
 
Author: AHF 
Editor: AHF, RS 21.04.2015 seven p.m.number of readings: 65 

 

 

 

Long-Presse / Baghdad

Ministry of Finance announced on Tuesday, discuss the financial crisis of Iraq with a delegation from the International Monetary Fund, and as pointed to agree on the Fund to provide emergency financial assistance for Iraq to reduce public expenditure, confirmed talks with IMF officials to stand on the government's use of funds SDRs in budget 2015.

The Finance Ministry said in a statement received (range Press), a copy of the "technical and detailed discussions took place yesterday, in the presence of the Minister of Finance and the Governor of the Central Bank and the Director General of the budget and general manager of public debt and general manager of the Iraqi Fund for External Development with the International Monetary Fund officials and official team Iraq in the Fund to crystallize Help Fund for Iraq in better current financial crisis. "

The ministry said "it was agreed to by the Fund to provide emergency financial assistance within the government and Ministry of Finance plans to reduce public expenditure."

The statement continued, "The Iraqi delegation held talks later with the legal department and the Department of Accounting at the IMF officials to stand on the use of the government and the Ministry of Finance for funds SDR allocation in the 2015 budget."

Iraq complain of weak financial revenues due to lower oil prices and increased military expenditures, which side came on her head, making the government resorting to austerity as one of the solutions adopted to meet the country's economic situation started.

The current year's budget law, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in daily auction ceiling does not exceed 75 million, with the exercise of justice in the sale, and claim the participant in the auction the bank providing the introduction of cargo documents and data Tax settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount, and so it applies penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar.

Read more: http://dinarvets.com/forums/index.php?/topic/201071-zebari-discuss-with-the-international-monetary-fund-financial-reform-steps-to-address-the-budget-deficit/#ixzz3Xxjj8WqY