Economic commission calls for barring the government from "overtaking" the central bank

Economic Commission calls for barring the government from "overtaking" the central bank

April 12 2012

(Voice of Iraq) - Sumerian News / Baghdad

Demanded that the parliamentary Economic Committee, on Thursday, the House of Representatives to prevent the government from "overtaking" the work of the Central Bank, arguing that the decision taken by the wait to lift the zeros of the Iraqi currency is not within its powers, while confirming that the bank is the reference of Parliament.

A member of the Economic Commission Mahma Khalilzad in an interview for "Alsumaria News", "exceeded the government today on the powers of the Central Bank through the decision taken by the patient to raise zeros from the currency is unacceptable," noting that "attempts to recent intervention work bank and link it caused confusion in the his work. "

He said Khalil, a deputy from the Kurdistan Alliance, said "This is an impact on the citizen's confidence in Iraqi currency, which led to the high exchange rate of U.S. dollar against the Iraqi dinar."

The Council of Ministers decided, on Thursday, April 12, 2012, to wait in the application of the deletion of zeros from the national currency.

He called the House of Representatives to "stand firmly against such interference," asserting that "the central bank an independent body administratively and financially, and authority of Parliament in accordance with the Constitution."

Khalil added that "the Bank does not require any decision to issue currency," attributing the reason is that "He has a law on the basis of prior work."

The face of the Iraqi Council of Ministers, on Wednesday (April 11, 2012), to form a committee to study the fluctuation of the exchange rate of Iraqi dinar, as he emphasized that the Commission will provide appropriate solutions to prevent harm to the national economy.

The head of the Iraqi Council of Representatives Osama Najafi said, in (April 10, 2012), that the Council will host a Bank Governor Sinan Shabibi at a hearing to show the issue of the exchange rate of the dollar against the Iraqi dinar, as attributed Shabibi the reasons for rising to the weakness of domestic production and the weakness of the government's actions.

The Iraqi market is currently witnessing a rise of the U.S. dollar against the Iraqi dinar, as sales rose from the Iraqi Central Bank foreign currency, while the central bank attributed the cause as well as to finance trade in the neighboring countries of Iraq by the merchants.

The Deputy Governor of the Central Bank of the appearance of Mohammed Saleh in January 19, 2012, for raising the price of the Iraqi dinar against the dollar during its sessions for buying and selling foreign currencies at the rate of four dinars, pointing out that the price of the dinar nominal is not commensurate with the purchasing power to him or the real price of the exchange rate of the dinar against the dollar.

The Central Bank of Iraq by January 15 in the buying and selling of the dollar and the price (1166) during the auction, which is evaluated daily and with the participation of 23 banks, after it was the buying and selling of the dollar price of 1170 dinars to the dollar.

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This is a very good article. Thanks for bringing. This shows that the government / parliament is standing against (sort of ) ultimate power of the prime minister. Another nail for / in Maliki

I do think most of the boys in Baghdad understand Maliki and how bad he could be and don't want him and his buddies with their hands in the bank accounts.

When all is said and done,he'll have so many nails in his casket, they'll end up 'WELDING' it shut-