Keywords carries the responsibility of the government and parliament reduced the country's reserve .

Keywords carries the responsibility of the government and parliament reduced the country's reserve ..cil Minister restricts the import and export companies and buy the currency recorded

July 3, 2016 

The governor of the Central Bank and the Agency on the Keywords that Iraq 's reserves of foreign currency of $ 53 billion, and with the exception that it is in line with international standards and regulations of the International Monetary Fund, hold the House of Representatives and the government responsible for the low reserve because Msadegthma on the financial budget in deficit. Said Ali Keywords: bank foreign currency reserves reach $ 53 billion may be changed up or down depending on what return it from the Ministry of Finance, noting that the amount within the bank accounts and fund the recent International Monetary demonstrates the adequacy of the reserve in accordance with the international standard of the existence of the amount of foreign exchange cover The local currency of dinar size. He added Keywords: it means that the central bank maintains a foreign currency in excess of local, noting that the rise in the reserve or decline caused by factors beyond the control of the Central Bank or control, being influenced by two factors two main amount of dollar given to the bank, from the sale of oil, and what you get Ministry Finance from the oil dollar , which sells it to the bank, you get to dinars to cover its expenses.

for his part, the cabinet announced a limited import and export as the companies process registered with the Ministry of Commerce, and the establishment of joint ventures shall clearance Alkmarki process, as identified the first of next July as the date for implementation, decided crisis cell headed by the Prime Minister to develop a plan to pay off the internal financial debt, the Paris Club to postpone the premiums until the end of the Iraq of its obligations, and speed up payments to contractors and farmers. He said the Prime Minister Haider al - Abadi 's office in an official letter addressed to the ministries and departments not associated and provincial councils entitled import and export procedures, the approval got to limit the import and export of materials and goods , and buy the currency on behalf of companies registered with the Registrar of Companies in the Iraqi Ministry of Trade process, for all materials covered by the import license condition, or not covered. In turn, the economic expert on behalf of Jamil Antoine, the government steps toward control of the laundering and smuggling dollar overseas operations is relatively good, but too late.

He added the main reason for the rise in price of the dollar in the domestic market is the process of supply and demand , which differed from previous years due to decreasing the amount of supply dramatically from $ 300 million to $ 120 million a day, as a result of lower oil prices in nearly two years. He explained Antoine that daily currency auction, which depends mainly on the sale of oil revenues by the government has become a front for operations financial and administrative corruption over the past years without any real movement by financial institutions in the country to stop the bleeding money and smuggled out of the country. He said the inventory of import and export operations of the Ministry of Commerce is an important step to control the amount of money sold in the domestic market and knowledge of the market needs of the consumer in addition to cut the road in front of speculators and corrupt people in the smuggling of currency abroad. Antoine stressed that the central bank is obliged to apply the laws that limit the operations of financial corruption, especially with regard to daily trading for the dollar coordination of relevant ministries on a regular basis and practical.