Central Bank: Auction currency sterilize the monetary mass massive

Currency sterilization cash auction block



2017/04/11 | 16:41
(Encyclopedia of this Day News | Iraq News ) - Auction currency bloc sterilize cash | neniraq
Follow-up / NeniraQ

Much talk raised on the sale of dollar window and drain it of hard currency in the local markets, in contrast is described by the Central Bank of the "sterile" monetary bloc and irreplaceable in the light of the economic situation , which is going through Alarac.mder in the financial operations of the Central Bank of Iraq d.

Mahmoud Mohammed said: " The window of dollar selling has two sides first technician is Sterilize monetary mass where the swap dollar amounts massive dinars resulting from the spending budget and debt, pointing out that not to withdraw this amount from the markets , causing a massive rise in prices, and that the window sterilization cash in light of the low level of financial macroeconomic.

He noted that the absence leads to a significant deterioration of the economy for my country from the technical side we did not find a viable alternative to give the dollar a window for sale.

Stable prices

And between Mohammed said the other side is difference price and this is being focused on, indicating that the recent measures that began in February of this year could facilitate results and reduced exchange rates at the borders suit the central targets to reach a stable and constant prices. He noted that the political and security risks in Iraq, causing instability, which leads to higher demand for the dollar and convert real existing to the dollar, indicating that the central bank continues to develop the electronic ones his tools in order to keep its goals as well as maintaining the Mtsuiat price is acceptable.

His statement entry

He reiterated that the window under the current circumstances, there is no alternative to it, indicating that the problem we experience that is not borne by the window exclusively, but its border ports responsibilities important in this aspect, stressing that set the ports and that the amounts correspond to the type of material with what goes to Iraq, leading to the end of the problems when give ports declaratory entry in agreement with what provided by the merchant and here can eliminate Almchakl.oatalib economists in more than one occasion the need to cancel the sale dollar window and they consider the drain on hard currency in Iraq because of a defect in the offers of purchase orders to sell the dollar window, because it is - according to experts - Amounts greater than the need for local markets of various goods. Currency exit

Specialized in economic affairs Ahmed expensive stressed the need to end the words that raised about the auction process through real activation of the productive sectors in Iraq, which in turn will provide various goods that meet a large proportion of the need for local markets and thus reduce the hard currency out of Iraq.

Activate plans

He pointed out the possibility that the national economy is a magnet for money bigger than coming out of it by activating plans that promote the national economy and the most important industrial strategy and the strategy of the development of the private sector rates, as well as the agricultural sector, which is always oil.

Costly between Iraq has the potential of development that make it able to achieve a multiplicity of financial resources and be more organized financial sector, stressing the need to start work on the development of rapid supplier that contribute to supplement the federal budget sectors.

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