Iraq is unable to take advantage of his money

Iraq is unable to take advantage of his money


Iraq should not be to take advantage of its money, says Global Center for Development Studies


Future of Iraq confirmed Global Center for Development Studies in London in a report issued by that Iraq is unable to take advantage of his money; because it does not have the budget for this year in the amount of about 119 billion U.S. dollars except what converts revenue from the sale of oil to the so-called “Development Fund for Iraq “of the International Monetary Fund.

Was quoted by news agencies to report as saying: that Iraq’s economy is suffering money laundering and corruption, financially and administratively in the joints of the current state and the sharp fluctuations in the exchange rate of the Iraqi dinar, reflected clearly on the living situation of the Iraqis, and led to the loss of the country around $ 3 billion in just two months in the year past 2012.

added that some force in the Maliki government, the current seek to take advantage of the surplus oil revenues to maximize their assets abroad. Center said that the Central Bank of Iraq announced in August / August that its reserves of hard currency amounted to $ 67 billion, while Announces the current Maliki government that preventive balances in the “Development Fund for Iraq” amounted to $ 18 billion, while the bank reserves of gold, it dropped by 20%, from about 39 tonnes in 2011 to 31 tons last year.,

as some accuse the current bank management responsibility for the disappearance of 10 tonnes of gold reserves, which Iraq needs him to promote the value of the dinar in the global capital markets.

stressed Global Center for Development Studies that Iraq not be able to benefit from the allocation of investment or financial surpluses only after instructing the International Monetary Fund to “Development Fund for Iraq” by turning it into Central Bank of Iraq.

felt that the Maliki government, the current turned – because of its inability to take advantage of their money and their need for international protection from creditors – to semi-caretaker government to pay salaries only.

concluded the center to 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” in the U.S. Federal Bank.

He believed that it is extremely important, especially with the loss of billions of dollars of Iraqi funds in the earlier stages, and conflicting statements about the size of payments and reserves, which are the property of the future generations of the Iraqi people.

[You must be registered and logged in to see this link.][You must be registered and logged in to see this image.]