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Economist: can not borrow from the central bank reserves, but a new law
Date: 01/14/2016 18:13
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Stressed economist Essam Mahouelle, Thursday, the central bank law does not allow the Iraqi government to borrow from the financial reserves, as pointed out that borrowing is not only the drafting of a new law is contrary to the Bank's borrowing materials.
Said Mahouelle told / information / that "the law on the central bank does not allow the Iraqi government to borrow from the financial reserves because it will reflect negatively on the reality of the Iraqi economy and monetary policy, as well as its impact on fiscal revenue for the country," pointing out that "the financial borrowing from reserves Bank requires the drafting of a new law be different from borrowing materials on the Law of the Central Bank. "
He added that "there are solutions to help Iraq to overcome the financial crisis through the issuance of domestic and foreign securities, as well as borrowing from the Bank and the IMF," calling on the Iraqi government for "activating the productive sectors in the country because they contribute to Brphi general budget money."
The Central Bank of Iraq, last Tuesday, that the government's intention to borrow money from the cash reserves would put the country in the "economic impasse" in front of the international community. And it will put the country's major economic disasters and trouble. Finished / 25's
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