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Central Bank refuses to withdraw money from the government reserves
14/1/2016
Central Bank of Iraq's refusal, on Thursday, directed the current government of withdrawal of financial reserves, stressing that the law does not allow them to draw from the hard currency reserves, and that this is a major violation, even if the goal of this step is the large fiscal deficit faced by the dam.
He said, "Ahsan Shomran" one of the officials at the bank in an interview with the news agency that "the law does not allow the government to draw from the bank's reserves of hard currency to cover the deficit in its budget for the payments."
Shomran He added that "the government would be unable to commit such violation, stressing that this is unacceptable and is a violation by the government, calling to go to issue bonds to be purchased by banks then deducted when the central bank last fact does not have the liquidity."
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