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Effects of the referendum of the region
11/10/2017 12:00 am [rtl]It is expected that the movement of the market in the province of northern Iraq to the consequences of decisions taken by the central government and the governments of Iraq's neighboring countries because of the so-called referendum in a manner that may lead to economic repercussions causing large increases in prices of goods and services. The first of these will be the expected drop in trade rates between the region and Turkey and Iran, as these border measures will have a significant impact on the low rates of trade flows through the border crossings of the region. Which will contribute to the crystallization of a state of economic stagnation in the markets of the province in conjunction with the decline of revenues of the Government of the region by the government decision to prevent the export of Iraqi oil through the port of Ceyhan and Turkey's willingness to cooperate in this regard with the cessation of the work of many investment companies that began to return their investment accounts just to enter the decision of delivery The administration of regional airports to the Civil Aviation Authority in the central government, which may lead to a recession paralyzing the movement of all sectors with the entry of the decision of the House of Representatives to stop financial and banking transactions with the Territory into force. Although the decision of the House of Representatives on the suspension of banking transactions pointed to the preservation of the rights of citizens Kurds and pressure on the leadership of the region, but the implementation of this decision will inevitably lead to complete paralysis in the movement of markets, which is expected to witness sharp price rises with the rise in the dollar exchange rate The parallel market within the region in conjunction with the commitment of the Central Bank of Iraq the content of the parliamentary decision judge - not to sell foreign currency to banks operating in the Kurdistan region and banks that have branches in the region in order to maintain the reserve of the Central Bank of foreign currency and prevent the leak - What it is stated in the resolution Parliamentary. Here we point out that the high exchange rate in the region will be a reason to smuggle the dollar from the neighboring provinces to the region by speculators and currency traders, which will make the parallel market in all provinces vulnerable to this escalation in the exchange rate, which requires more precision and rigor in the mechanisms of selling dollars in The Central Bank auction with the tightening of control over the offices of selling currencies, especially as the rise in the exchange rate witnessed by the parallel market in the region, will raise the appetite of speculators from neighboring countries and push international bodies to intervene in making more imbalances in the movement of the market in all governorates of the country. [/rtl] | |
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