Post From KTFA By Walkingstick - Articles Corresponding To Franks Blue Post
Deputy: political parties are visiting the Iraqi currency in neighboring countries
Experts Afif 24/02/2014
Accused member of the committee of economy and investment in the House of Representatives Nora Salem, political views unnamed forging currency, and pumped into the market in order to breach the Iraqi economy,
adding that the Iraqi currency counterfeit printed in neighboring countries, without revealing the identity of these countries.
says MP Salem said government measures used to protect the Iraqi currency is useless, and that the financial institutions are not able to control fraud.
in a related context recognizes a member of the parliamentary Finance Committee Abdul-Hussein al-Yasiri the existence of fraud in Iraqi currency,
Read More Link On Right
demanding who accuse political parties of involvement in the fraud to disclose the names of those actors, in order to be placed under penalty of law.
it stresses economic expert Abdul Rahman al-Mashhadani, the need to print currency with new specifications and better than its predecessor,
which is printed in 2004, adding that the financial experts were counting on the decision to delete the zeros, in order to change the specifications of the existing currency, especially as a reserve currency at the central bank does not offer cover enough of the Iraqi currency.
Meanwhile, the director of planning and financial management in the Ministry of Finance Hilal Taan that fraud does not represent a threat to the Iraqi currency,
especially that Iraq has a reserve currency more than 76 billion dollars, and 30 tons of gold, and pointed out that Currency reliable to the extent that it is now trading at U.S. banks.
indicated that economic observers would stress the need to take a new monetary policies in the Central Bank of Iraq, including that there will be cooperation between the central bank and private banks, in order to protect the currency from counterfeiting.
Expert has accused the central bank of causing the rising price of gold locally
Posted 26/02/2014 04:38 PM
Baghdad / follow the Orient: - Izzat adviser Association of private banks expert peace Sumaisem, the high price of gold in the domestic market to increase domestic demand it after applying the central bank's measures to cut the price of the Iraqi dinar in the auction currency.
Sumaisem said in a press statement: "The high price of gold is negative indicator for the absence of confidence in the system of cash, especially after the central bank announced a reduction in the price of the dinar against the dollar in daily auction of currencies,
which led to increasing concerns of citizens and resorting to gold as a safe haven to save their money. "and added:"
The statement of monetary authorities to reduce the rate of the dinar create a kind of cash swap safer and acceptable, and the increasing resort to the increased gold demand and rising gold price in the domestic market. "
They expected Sumaisem, up bigger for the price of gold in the coming days, "the blurry trends in monetary policy and being safer in Iraq." Mentions that the price of gold rose to their highest levels on Monday. Rose Spot gold and one percent to 1335.90 dollars an ounce in the latest insider just shy of the highest level.
Iraqi diplomat: Washington refuses to reset the dinar and its biggest loser
Baghdad, Washington / Orr News
Revealed an Iraqi diplomat in Washington that the U.S. administration strongly rejects Iraq's decision Ptsfir currency, or stop the daily auction of foreign currency, which is organized by the CBI.
The Iraqi diplomat said that "the United States is the primary beneficiary of the auction currency in Iraq, and the survival of the purchasing power of the Iraqi dinar is weak, compared to the price of currencies in the region,
especially the poor ones, which are suffering from economic problems large like Egypt." And showed that "the Iraqi currency, have been added zeros at the time of the former regime, and now is no longer an existential value, but the Americans are blocking efforts to zeroing damaged their economy and their companies from that. "
The specialists in economic affairs confirmed that the government's approval of a bill to reset the currency will reduce the size of the money supply and restore confidence globally, to the presence of oil as an asset added to the balance of gold in the international banks,
according to the Finance Committee representative to reset the local currency will contribute to the restoration of the Iraqi dinar to its strength, including approximately Previous worth purchasing and which was more than three times the U.S. dollar, and declined by the imposition of Chapter VII sanctions.