Government lending despite the law's nose !! .. Central Bank read light on the spirit of the country

Government lending despite the law's nose !! .. Central Bank read light on the spirit of the country's economy

By: Gazwan date: Monday 03.28.2016 7:26

Iraq today / special

found competent in economic affairs - lion Mohammed Ali, said that the "House of Representatives to exercise its oversight role, accountability from government and central bank for news of the withdrawal of government, exaggerated external reserves" . On point after that the central if that happens , be in breach of law in his hands: "

The Central Bank Act, to negate its lending to the government of the foreign exchange reserve, which constitute this reserve, the national currency cover, and only allowed the law, an investment of the reserve, within the secured areas for the development of optimized", and exceeds in terms of paragraph Previous: "the news of the withdrawal of the government from this reserve, is legally a serious breach, negative and an indication of the central performance and the government together, about the country 's monetary policy," then found Ali that this subject can not be covered by paper figs .. governmental justifications: "I call on the relevant committees in the House of Representatives .. highest watchdog to investigate the matter and inform the public on the results of the investigation, and no negligence in squandering the wealth of Iraq or ill - disposed. " Here we must dear reader pointed out that a member of the parliamentary Economic Committee - Rep . Nora Albjara, had promised to "pull the government, money from the central bank reserves, a major violation of the Iraqi constitution , " and said everyone, including is imposed, it seems that the central bank, may hit the wall: "The central bank reserves, is the cover of the Iraqi currency, not the banks to fill the budget deficit." The best way to bridge the budget deficit - according imagined Albjara, was: "The bridge the budget deficit, it is through some of the government 's measures, such as imposing taxes, issuing treasury bonds, etc., and not resorting to the reserve currency in the Central Bank", either a member of the parliamentary finance committee - Majida al - Tamimi, has confirmed its role: "It is not the right of the government, the withdrawal of foreign reserves from the central bank , " and what is in the list of al - Tamimi of reasons, we read: "there are many collection of funds, did not withdraw years ago , " and also: "the Central Bank , the House of Representatives followed and not the government , "and who has the final word in us using the government and the central funds, we read:" the parliament is approve the withdrawal of the government or not .. by a vote of deputies, but parliament rejects the withdrawal of the government from the central reserve ", to disclose MP Alohrrarih: "the government has its own reserves, it could pull it , to fill the deficit of the state."