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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Economic Commission: lending to the government conditional on the approval of Parliament

    Rocky
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    • Post n°1

    Economic Commission: lending to the government conditional on the approval of Parliament Empty Economic Commission: lending to the government conditional on the approval of Parliament

    Post by Rocky Wed 29 Oct 2014, 4:01 am

    Allegations that the previous government to withdraw 11 billion from the bank

    Economic Commission: lending to the government conditional on the approval of Parliament

    28/10/2014
    BAGHDAD - A beautiful spring parliamentarians and economists believe that the central bank is subject to watched him work from several quarters, inside and outside the country, pointing to the lack of permission to any party to act and withdraw money from it without the consent of Parliament. Economists cautioned to a decrease in bank reserves, calling for rationalization of expenditures and reduce the doors of the exchange. The media quoted the withdrawal of the former prime minister, Nouri al-Maliki 0.11 billion dollars, to cover military and security expenditures in the war against al Daash, while deputies and specialize student in economics Prime Minister Haider al-Abadi provide documentation describes the spending mechanism to make sure the information seems contradictory about the costs of the war and conditions emergency, and warnings of bankruptcy "EDF Aye" fund and the government's inability to meet financial obligations. And watching the central bank and the movement of money work several quarters; where the House of Representatives and the Office of Financial Supervision direct charge is internally for monitoring and follow-up of the Central Bank, and abroad watching his work of the external auditor and the International Monetary Fund and the World Bank, according to the observer's financial affairs in the country. And between Majid picture, in a telephone conversation with the "world", on Tuesday, that "the Constitution and the Law on the Central Bank is not allowed to withdraw any amount without taking approvals and the approval of Parliament." And regrets the picture of the transformation of the budget year 2014 to the budget and final accounts expenses, stressing the need to approve the law in the rest of the year because it "must clarify aspects of exchange in spending, especially since a lot of expenses" are unsuccessful and there are doubts in the way of dispensing. "Indicates the picture that "monthly imports Iraq up to 7 billion, and the remaining year to the end of only two months, so it is essential that the revenue and expenditure for the current year is my guess pool", expected to be the implementation of the basic commitments and priorities of the government without new projects. believes that it is necessary to cut costs and migrate projects investment budget to 2015 ", citing security conditions experienced by the country and face the risk of" Daash. " He pointed to the picture and there is no information to indicate low sovereign mobile reserve with the central bank up to $ 11 billion, he said, adding that it is possible that "the rise and fall according to Reserve purchases government and the Iraqi dinar and the dollar purchases private sector." There is no validity to any official or government agency to withdraw funds from the central bank, in the interim, according to the parliamentary Finance Committee, which was formed to discuss the budget member. Says Najiba Najib, MP for the Kurdistan Alliance, in a telephone conversation with the "world", on Tuesday, said that "the Central Bank Act prevents even lend to the government without the approval of Parliament," adding that the central bank "an independent institution, subject to the control of the Iraqi parliament," according to stipulated by the Iraqi constitution. On the transmission of some media reports CBI loss lately a lot of money, Najib replied that during the "last week, has hosted the Governor of the bank and his aides in Parliament to discuss the reality of their work," pointing out that monetary policy "successful in progress, has not been addressed to loss of money. " Kurdish MP noted that "the central bank reserves controlled", Msttrdp that hosting focused on Bank of Iraq in violation of the Constitution, by not taking the approval of the parliament in the printing and issuance of a new currency. They pointed out that Parliament exercises its oversight role to the central bank, effectively. And went on that the budget is still so far by the government, which has formed a committee headed by the Minister of Finance for consideration, noting that there are problems and challenges facing the work of the committee, such as the decline in oil and displaced persons and the expenses of the war in addition to the price of the Kurdistan Regional allocations. Najib concluded that "the reserve at the bank about $ 74 billion, which is on the rise." The head of the interim Magda al-Tamimi, the Finance Committee in the House of Representatives, said in a press statement that "the government has not yet responded to the books that they are addressed by our committee about the federal budget and re-draft amendments to the House of Representatives, in preparation for a vote."

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