Efforts political homogeneity of financial, monetary and reducing dilemmas currency exchange

11.15.2015 at 12:29 (GMT Baghdad)

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He said economic expert on behalf of Antoine, Sunday, that monetary policy in Iraq is greatly affected by a decline and the rise in oil exports, while noting that the work in progress on the financial and political harmony of the expenses of the state and monetary policy of the central bank to maintain the internal balance and the reduction of financial blunders of the country.

Said Antoine L / scales News /, that "the currency in Iraq, fed by oil revenues, mainly a rise in revenue that lead to the replacement of the currency of dinars to the dollar," adding that "the surplus of it goes to the monetary reserves."

He added, "There is a separation between monetary policy posed by the central bank and financial related expenses are paid by the state during the past period," stressing that "the work is happening now to converge the two policies together to maintain the internal balance and the reduction of financial blunders as well as meet the needs of the market to Dollar in order to stop the flow randomly to keep the assets in the Central Bank ".

He noted, that "the low and high oil exports significantly affect the cash reserves of Iraq, attributing the cause to the Iraq economy unilateral and depends mainly on oil," noting that "98% of foreign currency found in Iraq comes from oil."

He continued, "The government acted sums without informing the central bank on it, leading to monetary inflation," noting that "There must be harmony between the amounts their disposal state cash, the central bank so as not to lead to increased inflation."

"That said economic expert Abdul Hassan al-Shammari, said the central bank's foreign currency rate does not change for 1180 dinars to the dollar, while calling to make sound economic measures in order to eliminate the Iraqi budget deficit for the year" 2016.anthy 29/4 e