Economic Analyst: The government erred in forcing the central bank to pursue a policy of non-current

Economic Analyst: The government erred in forcing the central bank to pursue a policy of non-current in the market




Tuesday, May 28 / May 2013 12:02 | | |


{Baghdad: Euphrates News} economic analyst Ismail Aboudi, said the central government made ​​a big mistake in forcing the central bank's policy is not present in the market which impact negatively on the dollar price increase.
And refers economists that the reasons for the poor fiscal policy of the country, especially monetary and fluctuating exchange rate of the dollar against the dinar many, and focus on the political differences that disrupted a lot of things the state and weakened, including fiscal policy or monetary, as well as the conditions of the country's current overall especially the security file and its implications for the serious situation public service in his country.
The slave told {Euphrates News} on Tuesday that "the government forced the central bank to transfer funds and sell the currency in addition to import Iraq bills ", pointing out that" the subject of conversion and the dollar does not need to these factors but there are many factors that control the market needs. "
He added that "determining the central bank to the currency exchange policy and allegiance impact negatively on the volatility result make the dollar go up to the largest numbers of truth. "
He bonded to the "responsibility to pour into the central bank to maintain the exchange rate is the most important pillars of the mission in Iraq is to have a stable currency and where there is no wiggle".
The MP for the mass of the parliamentary Abdul Hussein Abtan stressed that his bloc will not remain silent about the continuing decline in the value of the dinar and its impact on the country's economy and the lives of citizens, especially low-income and poor people who unfortunately make up half of society.

Abtan stressed in a statement to the Euphrates News Agency {} "The central bank primarily is responsible for improving the dinar exchange rate, it is not reasonable that the country has reserves estimated at 74 billion dollars and the dinar assaulted him in front of the eyes of everybody."
Abtan said that "on the central bank to take action fast and needed to be one dollar versus thousand Iraqi dinars, and this is what our work during the previous years and we have achieved stability of the dinar with the reserve did not exceed U.S. $ 30 billion at the time."
The Committee on Economy and Investment has confirmed that parliamentary disputes and political crises that hit the country and the lack of clarity of central bank policy led to the fluctuation of the exchange rate of the dinar against the dollar.
Mention that the issue of the central bank and its aftermath that led to the sacking of Central Bank Governor Sinan al-Shabibi and the appointment of Abdul Basit Turki instead of him acting in addition to reserve a number of staff were due to the low exchange rate of the Iraqi dinar against the U.S. dollar, but that these measures did not limit this fall. Ended 3 m

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