Experts: out of Chapter VII vacated the central bank of international responsibilities

by **Ponee** Sun Apr 20, 2014 11:57 am

Experts: out of Chapter VII vacated the central bank of international responsibilities

04/20/2014

Abdul Ghani al-Saidi / Baghdad news
The views of monitors economic and financial sector and banks on the withdrawal of Iraq from Chapter VII and the impact ofThis is going out on its monetary policy.As the economist said Ibrahim al-Mashhadani said that "the measures taken by the Iraqi government after emerging from Chapter VII, which is actually a folder on the financial and economic."He said al-Mashhadani said in a statement singled out by the (Baghdad news) on Saturday, said that "out of Iraq from Chapter VII of the Central Bank international responsibilities and will be through the restoration of Iraq's financial abilities which he enjoyed during the period before 1991."

He said al-Mashhadani said that "the central bank today has a law passed in 2004 promised an independent institution and practiced his cash well away from political influences side," noting that the process of coordination between fiscal and monetary policy needs to be re-audit of two things first that Iraq out of its international obligations for his exit from Chapter VII and the second thing that the central bank is the party that draws monetary and fiscal policy in Iraq, whether internal or external.

He explained that "Iraq would emerge from Chapter VII had a positive effect on the work of the central bank through many dimensions, including economic dimensions, because it will include a monetary policies have great weight in the role of Iraq in its regional economic and financial."
Among economic expert Hatem Alboati that "out of Iraq from Chapter VII was carried out after all Olaltazamath international trend of the international community and which therefore should not have any cause to the process of the CBI."
Alboati said in a statement singled out by the (Baghdad news) on Saturday, said that "the central bank's money funds are considered sovereign and can not be compromised or manipulated Bmekdradtha whether Iraq under Chapter VII or outside, and they are under the protection of the World Bank economic."

He added that "all countries in the world is the money the central bank which is the money the sovereign has no right to any political party or partisan or international manipulated so the international laws that protected the money the central bank of the terms of Chapter VII, as well as cohesion after the withdrawal of Iraq from Chapter VII."

He pointed out that "Iraq would emerge from Chapter VII is a replay of the prestige of the Iraqi state, after the right of the former regime damage the prestige of Iraq, and Iraq has fulfilled its obligations to pay 41 billion dollars to Kuwait in compensation for war Iraq and Kuwait, where pay for the Iraqi people as a result of the policy of the former regime reckless."
And that "the amount of money that will return to the Iraqi Central Bank after the withdrawal of Iraq from Chapter VII is estimated at 82 billion dollars, which will cover the dinar and contributes to the economic situation lifter."

For its part, said economic expert d. Sumaisem peace that "out of Iraq from Chapter VII allowed Iraq to use his money into the investments through the Central Bank."

Sumaisem said in statement summarized by Baghdad (news) on Saturday, said he "was supposed to Iraq activation policies of fiscal and monetary with his exit from Chapter VII, but the process of volatility that hit the monetary policy in Iraq, and that the changes, which included the central bank recently prevented the benefit good of the process out of Iraq from Chapter VII. "

She Sumaisem that "the absence of specialists in the field of monetary and financial sector was the main reason behind the lack of development of monetary policy in Iraq, his exit from Chapter VII."

It showed that "out of Iraq from Chapter VII will return economic benefits great country., And he would convey to the Rehab development, by allowing major global construction companies for the purposes of reconstruction, and therefore, Iraq will return to the incubator of the international community after a break that lasted more than 23 years." http://goo.gl/yqvWEu