Governor of the Bank: Cancel sell currencies window will lead to the collapse of Iraq 's entire financial situation

Governor of the Bank: Cancel sell currencies window will lead to the collapse of Iraq 's entire financial situation

Il Giornale 7 hours ago


BAGHDAD - The Journal News
The governor of the Iraqi Central Bank on the Keywords that stopped selling the dollar by selling currency in the bank window will lead to the collapse of the Iraqi dinar and financial situation in Iraq in general.

Keywords and said in a statement on the sidelines of the annual conference of the Union of Arab Banks, which was held in Beirut, "said the central bank is obliged to do the job, though declined to perform this role for the collapsed financial situation in the whole of Iraq."

He said the bank's governor "to Waglguena sell the dollar has become a window to the dollar price per between 3 and 4000 dinars, and maybe more.

The governor pointed out that "in the event of cancellation of the current window of the currency will have to print trillions of Aldnaniralaracah annually to cover the local need of the dinar, which will lead to Iraqi Anhiaralamlh due to inflation, or what is known as excessive cash."

And about the prospects float Aldenarabraghi, similar to other countries in the region, Keywords "This is not on the table, said at present, we are working to liberalize the currency and not float, a large difference between the two."

Keywords denied the existence of coin auction at the Central Bank, but the sale of foreign currency window, stressing that the central mediator between the Ministry of Finance and the public is not only.

He noted that the solution in Iraq lies in reducing the demand for the dollar through the structure of the Iraqi economy correction, rather than through a reluctance to sell Atar.anthy

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