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CBI confirms to World Bank value of the dinar is not affected by high rates of inflation
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CBI confirms to World Bank value of the dinar is not affected by high rates of inflation
by dinardiva Sat Sep 03, 2011 11:48 am
The Central Bank of Iraq, Friday, on the value of the dinar is not affected by high inflation rates in the country, denying the existence of any economic risks on the country. The World Bank called Bank of Iraq, the Ministry of Finance, on Thursday to take action to prevent increasing the persistence of high monthly inflation.
The deputy governor of the Central Bank, "the appearance of Mohammed Saleh," The "fears the international financial institutions of high rates of inflation, monthly and annual amounts which are under the control of the Central Bank of Iraq and any threat does not cause deterioration of the value of the Iraqi dinar."
Iraq has seen a rise in inflation for the month of July in 2011 compared to the same month of 2010 by 7.1% after it was last year's 2.4% due to higher prices, housing rent allowances. He pointed out that "the crisis of the dollar and the rising prices of rents and higher wages for electricity and the main reasons behind the persistence of high inflation in the country. "He explained that "the Central Bank of successful political support in reducing the rate of inflation and reduction in line with demand and supply prices on the Iraq dinar and increase the monetary value."
Defines inflation as excessive in the general level of prices and rising incomes in cash or a component of cash income such as wages or profits as well as high costs and over-the creation of cash balances. And worried about a number of economists from the continuing high rates of inflation in the country in the absence of mechanisms to reduce height of the government institutions involved in the management of the economy in the country.
The deputy governor of the Central Bank, "the appearance of Mohammed Saleh," The "fears the international financial institutions of high rates of inflation, monthly and annual amounts which are under the control of the Central Bank of Iraq and any threat does not cause deterioration of the value of the Iraqi dinar."
Iraq has seen a rise in inflation for the month of July in 2011 compared to the same month of 2010 by 7.1% after it was last year's 2.4% due to higher prices, housing rent allowances. He pointed out that "the crisis of the dollar and the rising prices of rents and higher wages for electricity and the main reasons behind the persistence of high inflation in the country. "He explained that "the Central Bank of successful political support in reducing the rate of inflation and reduction in line with demand and supply prices on the Iraq dinar and increase the monetary value."
Defines inflation as excessive in the general level of prices and rising incomes in cash or a component of cash income such as wages or profits as well as high costs and over-the creation of cash balances. And worried about a number of economists from the continuing high rates of inflation in the country in the absence of mechanisms to reduce height of the government institutions involved in the management of the economy in the country.
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Re: CBI confirms to World Bank value of the dinar is not affected by high rates of inflation
by me2 Sat Sep 03, 2011 11:54 am
Spoken like a true Central Banker with a degree in economics! Translated: "We don't really know what's going on but we want to sound like we do. And for anybody trying to read into this about an RV, forget about it!"
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