Baghdad follow-up to the morning
in pursuit of the Iraqi Central Bank to establish the principle of transparency of the overall activities and to inform those interested in financial affairs and citizens in general, Governor of the Central Bank on the Keywords occur, on Sunday for a number of monetary policy parameters. It has revealed that the Rafidain and Rasheed suffer from several problems, and explained that the central bank is moving to privatized.
Keywords and said in an interview with a number of media followed the «morning»: The Rafidain and Rasheed Asthoman 80 percent from fiscal policy in Iraq, returned it «an anomaly».Keywords and pointed out that «these two banks are suffering from serious problems», he said:
«We are heading to the privatization of banks or participation with the private sector, and we are working on it in coordination with the World Bank after the Council of Ministers agreed to this proposal».
Also announced relationships, that Iraq has reserves of hard currency within international standards, while noting that the natural decline in the reserve process.
He said that Iraq has a reserve within the international standards », indicating: we still cover the Iraqi dinar 1.7 of currency in circulation by value 39 trillion dinars.
He said the Keywords, the Reserve is able to cover imports in the country for 6 months, and that the natural decline in the reserve process which is psychological more than what is worrying.
He Keywords, that the reserve is not controlled by the central bank but controls the supply factors of the Ministry of Finance and demand from the market.
He pointed out that the Central is to maintain the market response to the request and fill the balance of payments, because it enters in maintaining the balance.
To that, the Keywords rejected a proposed public sector salaries distributed to the dollar, pointing out that tend to disrupt the process of distribution.
As Governor of the Bank confirmed that the project to delete the zeros of the existing currency, but the administrative conditions are not favorable for its implementation so far.
He explained that the issuance of 50 thousand dinars nothing to do with class delete the zeros but came to structuring currency and do not affect inflation and rising prices. -[My Note: the intent is not negative, he is saying this isn't working against the plan to delete the zeros]
He added that 25 thousand class no longer suitable for trading bloc compared with cash in circulation, and that the new category will facilitate the transport and conversion process by the banks and citizens. -[lol]