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Iraq ... Are Employees' Salaries Insured? Or Printing More Currency Is The Solution DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Iraq ... Are Employees' Salaries Insured? Or Printing More Currency Is The Solution

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Iraq ... Are Employees' Salaries Insured? Or Printing More Currency Is The Solution Empty Iraq ... Are Employees' Salaries Insured? Or Printing More Currency Is The Solution

Post by claud39 Thu Oct 29, 2020 1:52 pm

Iraq ... Are Employees' Salaries Insured? Or Printing More Currency Is The Solution

 Oct 28, 2020

Iraq ... Are Employees' Salaries Insured? Or Printing More Currency Is The Solution %D8%A7%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A

[rtl]The Independent / - Iraq is going through a financial crisis that some consider suffocating to the most extreme levels, which was formed due to files of corruption and the deterioration of the general economic situation in the country, which negatively affected the issue of distributing state employees' salaries.[/rtl]

[rtl]The economic problem that Iraq went through during the current year worked to delay the delivery of salaries for several months, which made the Iraqi street go through a state of instability, and many voices began calling for the development of economic solutions to cross this crisis.[/rtl]

[rtl]Starting from the border outlets[/rtl]

[rtl]In June of this year, Prime Minister Mustafa Al-Kazemi pledged to carry out large-scale campaigns to restore control of the border crossings, and according to  a statement issued by his office, in which he affirmed: “We incur billions of dollars annually in losses from gangs, groups, bandits, and influential people who sometimes control Ports ”.[/rtl]

[rtl]The head of the Border Ports Authority, Kazem Al-Oqabi, revealed, in press statements, that there was a waste of 8 billion dollars annually in the border crossings due to "corruption."[/rtl]

[rtl]Where the Al-Kazemi government offered the option of controlling the border crossings, one of the solutions to re-inject more money, which is estimated at billions of dollars, into the state treasury.[/rtl]

[rtl]Borrowing is the beginning of bankruptcy[/rtl]

[rtl]Many demands have begun to approve the internal and external lending law of the Iraqi government, which aims to provide an economic reform program based on improving the economic level of Iraq and restoring stability to it, and the Iraqi parliament announced last June the approval of the law with a sixty-day deadline for the Ministry of Finance and the government to present a reform program Economic by law.[/rtl]

[rtl]But in a previous statement to the Finance Committee of the Iraqi Council of Representatives, it said, unfortunately, we see that the government is trying to throw the ball in front of the House of Representatives and choosing between approving a loan that will soon perish and that is the bankruptcy of the country and whose results will be borne by future generations, and between statements trying to pressure us confirm that there are no salaries without Council approval of the borrowing law to embarrass the Council and mix the papers.[/rtl]

[rtl]The committee added that the issue of securing salaries is not a responsibility of the legislative authority, but rather a purely governmental duty.[/rtl]

[rtl]Print more currency to solve the salary issue[/rtl]

[rtl]With the beginning of the current year, the issue of printing currency began to circulate more, especially with each delay in the delivery of salaries to employees. Regarding the same matter, the bank commented in a statement that when the Ministry of Finance wants to finance spending on various spending units and salaries, it asks the Central Bank to strengthen its account with the Iraqi dinar in exchange for withdrawal From its dollar account, no amount shall be deposited into the dinar finance account unless a corresponding withdrawal from its account is dollar.[/rtl]

[rtl]Yesterday, Tuesday, the spokesperson for the Iraqi Prime Minister, Ahmad Mulla Talal, confirmed that there are no intentions of the Central Bank of Iraq to print a new currency, while the salaries of employees are insured.[/rtl]

[rtl]Mulla Talal also confirmed that the news that the central bank intends to print a new currency is incorrect, because the central bank’s monetary policy administration is a clear one and aims to maintain the exchange rate, stressing that “employees’ salaries are secure.[/rtl]

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