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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


    Warning .. Iraq is heading for bankruptcy with the continued sale of treasury of the dollar

    Rocky
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    • Post n°1

    Warning .. Iraq is heading for bankruptcy with the continued sale of treasury of the dollar Empty Warning .. Iraq is heading for bankruptcy with the continued sale of treasury of the dollar

    Post by Rocky Mon 01 Feb 2016, 10:16 am

    Warning .. Iraq is heading for bankruptcy with the continued sale of treasury of the dollar

    01/02/2016
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    [rtl]BAGHDAD / JD / .. warned a number of experts and specialists in the financial and economic affairs of decreasing the amount of cash reserves of hard currency to the Central Bank at the continuation of the sale of the dollar in the auction under the low fiscal revenue of hard currency for the state because of lower oil prices, while noting the central bank that continued to sell the dollar comes to keep the Iraqi dinar exchange in the local market price.[/rtl]
    [rtl]The economist said Salam al-Quraishi, the reserve of cash in foreign currency at the central bank is sovereign balance for future generations as well as a haven safe of the national currency, it can not be manipulated once, indicating that the depletion of central bank balance of hard currency through the continued sale of the dollar will lead to a decreasing This thing is a threat to the economic and financial situation of the country.[/rtl]
    [rtl]He said al-Quraishi told / KD / A reduction in financial revenue of the state of hard currency in light of the low world oil prices this means that the central bank began to draw on cash Balaanaat when to sell the dollar in the auction and this is a violation of the law, stressing that the continuation of the central bank sold the dollar will lead to a decrease in the size of monetary reserves and this will lead to the bankruptcy of the state altogether.[/rtl]
    [rtl]For his part, financial expert David Zayer warned of the bankruptcy of the Iraqi state in the event of the continuation of the central bank sold treasury of the dollar.[/rtl]
    [rtl]Zayer said, "The depletion of central bank balance of the dollar will arrive to the bankruptcy of the state, after they crossed the stage of the bankruptcy of the government, because this depletion leads to yellowing of the bank balance of hard currency."[/rtl]
    [rtl]He explained that "the bankruptcy of the state leads to an inability to economically deal with other countries, stressing that the sale of the Central Bank foreign currency violation of the law, because he does not have a law to sell the currency and can buy the currency, but is justified as buying the Iraqi dinar and this is illegal."[/rtl]
    [rtl]Zayer said he "supposed dollar money that comes from the oil riches of other investment and project management, and not turn them into consumer products, because the financial reserves in the world where more than, more than economic weight, but that happens in the country that we alter this hard currency local Iraqi dinar, which does not benefit beyond its borders. "[/rtl]
    [rtl]The parliamentary Finance Committee has to resort to the use of central bank cash reserves of hard currency to sell the dollar Bmzadeh ruled out, urging the central bank to maintain the dinar's exchange rate without compromising the cash balance for him.[/rtl]
    [rtl]Said committee member Ahmed Sarhan told / KD /: "We do not believe that the central bank monetary manipulation Balahiat or use of it in the process of open sale to the dollar in the auction because the process can not be used as a harm the public economy and the financial situation of the state."[/rtl]
    [rtl]He added that the central bank must take serious measures to maintain the dinar's exchange rate against the dollar without prejudice or manipulation of the cash reserves of hard currency.[/rtl]
    [rtl]For his part, said Governor of the Central Bank on the Keywords that the continuation of the central bank sold the dollar in light of reduced state financial revenues comes to keep the dinar exchange rate against the dollar in the domestic market, denying at the same time manipulating the cash reserve.[/rtl]
    [rtl]Keywords and said that the cash reserve is present and can not point to any manipulation by the final because it is a cover for the local currency, indicating that the central bank continued to sell the dollar in its daily auction comes to keep the dinar exchange rate against the dollar in the domestic market.[/rtl]
    [rtl]The official document of the Finance Committee in Parliament revealed that the central bank sold the amount of the US dollar in the past year more than in 2015 and Iraq's imports of foreign currency obtained from the sale of crude oil in the same year.[/rtl]
    [rtl]The document showed that the country's oil revenues for the year 2015 amounted to $ 38 billion, while sales of the bank in the same year was more than $ 44 billion, a difference of more than five billion dollars, that is what sold Iraq of foreign currency more than its imports from them.[/rtl]
    [rtl]Iraq is facing a financial crisis due to the sharp decline of oil, where the financial budget for this year with a total expenditure of more than 105 trillion deficit accounted for 22.8%, reaching a total revenue of the 81 trillion and 700 billion dinars, the oil revenues, of which 69 trillion and 773 billion dinars The increase of 85.1% from total revenues, while non-oil revenues amounted to more than 11 trillion and 927 billion dinars The increase of 13.6% of total revenues. / End / 8 /[/rtl]
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