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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

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    An international report: Iraq is unable to take advantage of his money

    Rocky
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    • Post n°1

    An international report: Iraq is unable to take advantage of his money Empty An international report: Iraq is unable to take advantage of his money

    Post by Rocky Sat 13 Apr 2013, 8:20 am

    An international report: Iraq is unable to take advantage of his money



    Published: Saturday, April 13, 2013



    BAGHDAD (Union) - The «Global Center for Development Studies» in London, in a report issued yesterday, that Iraq is unable to benefit from the money, where has the budget for this year in the amount of approximately $ 119 billion U.S. but what turns it from proceeds from the sale of oil to «Development Fund for Iraq under the International Monetary Fund (IMF).

    The report said that Iraq's economy is suffering money laundering, and corrupt financially and administratively in the joints of the Iraqi state and sharp fluctuations in the price of the Iraqi dinar exchange reflected clearly on the living situation of Iraqis, and led to the loss of the country around $ 3 billion in just two months in the last year 2012. He said that some of those in force in the Iraqi government is seeking to take advantage of the surplus oil revenues to maximize their assets abroad. He added that the Central Bank of Iraq announced in August that its hard currency reserves reached $ 67 billion, while the Iraqi government announces that preventive balances in the «Development Fund for Iraq amounted to $ 18 billion. The bank gold reserves, has dropped by 20% from about 39 tons in 2011 to 31 tons last year. Some accuse the administration of the current bank is responsible for the disappearance of 10 tonnes of gold reserves to which Iraq needs to enhance the value of the dinar in the financial markets. He added that Iraq is not able to benefit from investment allocations or financial surpluses, but after that instructs the International Monetary Fund to «Development Fund for Iraq transfer to the Central Bank of Iraq.

    Center felt that the Iraqi government its inability to take advantage of their money and their need for international protection of creditors turned into a semi-caretaker government to pay salaries only. The Center concluded that the reality of the confusion and chaos in the Iraqi economy and the spread of financial and administrative corruption requires the existence of transparency in the accounts of funds «Development Fund for Iraq at the U.S. Federal Bank. He believed that it is very important, especially with the loss of billions of dollars of Iraqi funds in prior periods, and conflicting statements about the size of the amounts and reserves that are considered the property of the future generations of the Iraqi people.

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