Economy News / Special
Last Updated 15/04/2017 - 11:41
The governor of the Central Bank of Iraq on the right to stop selling the dollar through the window selling currencies in the bank will lead to the collapse of the Iraqi dinar financial situation in Iraq in general, stressing that the central bank is obliged to carry out this task, even if reluctant to perform this role to collapse the financial situation in Iraq.
Al-Alak said in an interview with the envoy of the agency "Economy News" on the sidelines of the annual conference of the Union of Arab Banks, which was held in Beirut recently to close the window selling the dollar to become dollar exchange rate between 3 and 4 thousand dinars, and perhaps more
The governor will also be forced to cancel the window to print trillions of Iraqi dinars annually to cover the local need for dinars which will lead to the collapse of the Iraqi currency because of inflation or known as excessive cash
On the prospects of floating the Iraqi dinar like other countries in the region, said the relationship is not on the current situation, and we are working on the liberalization of the process and not float* and the difference between the big
He denied the existence of a currency auction in the Central Bank but the window of sale of foreign currency stressing that the central mediator between the Ministry of Finance and the public is nothing but
Turning to the experiences of Lebanon and Jordan, in the field of maintaining the stability of their currencies explaining that the situation in Iraq is different
He noted that the solution in Iraq lies in reducing the demand for the dollar by correcting the structure of the Iraqi economy, not by refraining from selling the dollar
The governor stressed the central bank's efforts to settle salaries of employees in private banks, stressing the existence of a trend to settle all salaries of Iraqi employees during the next year 2017 in banks
The governor of the Central Bank welcomed any request to host the House of Representatives stressing the importance of meeting with Parliament, based on the fact that monetary policy is a specialized issue can not be addressed from afar, or through skirmishes and inaccurate analyzes.
The text of the dialogue with the governor will be published in the forthcoming issue of the Iraqi Banks Magazine issued by the Association of Iraqi Private Banks
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