Walkingstick » September 6th, 2016
( Story ) The CBI equip Rafidain and Rasheed foreign currency ( US dollar ) for the purpose ofexpanding cash sales outlets for the dollar to citizens through their branches scattered in Baghdad and the provinces
Suggested the US Embassy in Baghdad on Sunday that Iraq is a candidate for accession to the World Trade Organization
Kim Dboa said that “the IMF projects growth in non-oil sectors of Iraq’s economy will slow during the current year 2016, and then begin to rise by the year 2018,” noting that “investing in projects in non-oil production is crucial for the Iraqis.” .
He predicted Dboa, “the Iraqi economy shift to a more market-oriented economy, being the focus of his business to deal with the international community, including the United States and other trading partners, where keen on belonging to the international community through its cooperation with international organizations including the IMF international and the World Bank, the United Nations and the Arab League, “stressing that” Iraq is a candidate for accession to the World trade Organization. ”
US embassy spokesman, said: “Iraq needs to do some major reforms to improve its climate for investment for both Iraqi and foreign parties,” pointing out that “the World Bank and the Government of the United States identified the sectors that will develop them to contribute to attract investment and create jobs and develop the economy Iraqi. ”...
The US Embassy in Baghdad, uncovered, on Wednesday (31 August 2016), the trade exchange achieved with Iraq since the beginning of this year until August, totaled more than $ 2.6 billion, and as pointed out that trade between the two countries amounted to 6.6 billion dollars for 2015, pointed out that there is a desire among US companies to invest in Iraq.
Don961 » September 6th, 2016
Experts in finance and economics, warned on Tuesday that the central bank's reserves fall at a rate of $ 9 billion annually, with the Committee of Economy parliamentary confirm that the sale of the bank for foreign currency is causing a drain on her and wasted the wealth of Iraq, described the central bank adviser current fiscal inventories as "reassuring."
He said financial expert and member of the Economic Reform Institute, Majid Aziz, for "tomorrow's Press," that "the Iraqi Central Bank reserves fell from $ 88 billion to $ 67 billion, and continued the decline that this year reached $ 43 billion, a decline of up to $ 45 billion and the rate of decline is equivalent to nine billion dollars a year. "
He added that it "is supposed to work on how to increase the monetary reserves of hard currency by investing part of it in development projects, not operating expenses, as is happening now," he said. "Reservist is a cover of the national currency and a safe haven for her as well as he sovereign balance the state can not any hand even manipulated by the government, except in cases of necessity or investment. "
At the time accused a member of the economic and investment commission in Parliament, Salam al-Maliki, the Central Bank of wasting the wealth of Iraq Finance, saying that "there are measures included many of the suspicions of corruption and fraud what is known as a window of foreign currency sale at the central bank that caused the depletion of the currency of the country, and led to a decline in reserve of the dollar in the bank treasury and that it was more than $ 80 billion to No. anonymous central bank can not permit it. "
Maliki said in a statement, "tomorrow Press" received a copy of it, that "certain information to indicate a low level of cash reserves of hard currency to the low levels portend serious disasters in the short and long term may threaten bankruptcy Iraq and drowning in foreign debts," noting that " there is a vast difference between the approved price for the local market accredited to the Central Bank of the price, allowing the spoilers and behind them by depriving the government of tax and Alcomerk in addition to depriving the Iraqi people of the benefit of the real exchange rate. "
So the central bank adviser, Walid Idi, for "tomorrow's Press," that "more than $ 50 billion in the value of inventories (central bank reserves), this covers imports over the period prescribed internationally recognized," adding that "this is reassuring in current time".
He Idi, "This is to meet the coverage of private sector applications for import, as the state imports 95%, and now do not import anything, but the private purpose of the Iraqi ministries," adding, "However, imports by the private sector, there are no hand in Iraq in the process of financing other than the central bank through harness the reserves. "
And between, "The policy adopted by the Central is the emphasis on banks to make sure the money provided by sources to buy the dollar, that is, from the sound and true and non-artificial sources, as it carries out inspections and all the special import operations documents kept with the bank and the Central Bank's role is after a period of conduct periodic inspections of these banks to make sure that the documents submitted were correct and conform to the law and the orders were real. "
He explained, "The other side, which emphasizes the central bank is trying to reconcile the preservation of foreign reserves has reconciled with the requirements of the market price to ensure the stability of the Iraqi dinar exchange rate against foreign currencies and as an important function of the central bank."
He noted that "the stability of the exchange rate is always linked to two factors political stability and the stability of security, and the security situation, the state is still the crowd and popular security forces fighting Daesh by all my strength and was able to respond 90% of the territory usurped, which requires spending and sustain the battle of supplies."
He continued, "The other thing is the internal migration, many Iraqis stopped their work and Orchehem and their homes and forced into internal migration or external and managed a lot of them transfer assets into foreign currency and carry them with him within 10 000 dollars allowed anti-money laundering law, this international standard to meet spending requirements outside Iraq or elsewhere, "noting" and this certainly increase demand for the dollar on the black market, the lack of security and political stability influential factors on the exchange and price stability. "
The Governor of the Central Bank and the Agency, on the Keywords, had said earlier 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 the deficit.
The CBI has refused (January 13, 2016), directed the government to draw from the financial reserve, while attributed to the fact that the law "does not allow" the government of this, he called for the issuance of bonds and sell them to banks.