Political stick and cash wheel

Political stick and cash wheel

 

08/06/2017 0:00

Dr.. On behalf of the Patriarchs ,
 produced a financial and security crisis that hit us during the past three years a number of economic data, which revealed the Iraqi economy financially as a result of lower oil prices to less than half of the prices that were before the crisis , as well as the growing face of terrorism requirements and liberating the land from "Daesh gangs . Among the most prominent economic data that the crisis revealed the fragility of the previous economic plans and strategies that have been adopted by the Ministry of planning and the absence of results as well as hardening of fiscal policy towards the crisis and its inability to adapt to them , especially in the downward trend. but in Compared to this crisis it revealed the high flexibility of monetary policy and health orientations within the framework of providing support and coordination with fiscal policy, which provided some sort of stimulus and economic stability , especially as inflation rates are still less than 1 percent , and for years the crisis, which confirms its success in achieving its goals.
monetary policy has provided many solutions to cross the crisis , some of which solutions to non - traditional , such as the so - called "quantitative easing" as well as the sustainability of foreign trade financing requirements, and all of this was going on under the Qada sustainability of reserves on the one hand and the stability of the exchange rate at the target point of its borders Brother Z.
These measures what they were to succeed without being accompanied by reforms in the banking system and the requirements of the labor administration , both in the framework of the fight against money laundering and promoting transparency or Automator banking and Zeya banking services as well as special tuning window selling foreign currency measures in cooperation with an international auditing firm. While the central bank is seeking to develop its tools in order to overcome the crisis , we find some determines his attitude towards these measures through self-personalization impression of the gate and not through objective economic analysis.
The monetary policy in Iraq during the past two years was able to sustain the economy successfully despite the persistence of the double crisis and the ineffectiveness of other economic policies, but the irony is that international institutions today commends the new procedures of the Central Bank as criticized by some politicians which is the opposite of what was happening in previous periods, the question is whether the political stick succeed in disrupting the cash wheel?.


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