09:26 - 15/08/2017
Economist Bassem Antoine warned on Tuesday of an economic catastrophe if money laundering and the depletion of hard currency were continued due to the importation of goods.
"The country is heading for an economic disaster in the event of continued waste of hard currency under the pretext of importing consumables is unnecessary," Antoine said.
Antoine said that "Iraq is witnessing a significant reduction in the dollar from the central bank's cash reserves because of the price of goods imported from abroad for the purpose of smuggling the largest amount of money abroad."
"There are goods imported at very cheap prices compared to origin, and this is due to money laundering where corrupt money is smuggled under the pretext of importing and exporting goods." Finished 25 d
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