Economist: Iraqi government solutions to the economic crisis is far from ground

News Source: Ali Abd al-Salman

February 9, 2016 8:13

He said economic expert on behalf of Jamil today that the Iraqi government does not have a clear monetary policy to the economic crisis faced by the country and most distant from the ground solutions do not meet the ambition.

Jamil In an interview he followed news agency Buratha said Iraq depends by about 98% from the sale of oil for their task of issuing a foreign currency brought into the country and this is a serious mistake in monetary policy for the failure to diversify sources of income and thus exposed the government to a severe economic crisis in the case of low global oil prices.

He said the government currently does not know where to go hard currency after selling by the central bank of the citizen or merchant to an end, either because the dollar continued smuggling leads to a decline in the price of the Iraqi dinar and therefore the market affected dramatically, calling on the government to adopt permanent bond system and then Alkmarki system Altsrihh customs to be controlled on the dollar in order to reduce smuggled out of the country.

Parliamentary Finance asserts ownership documents includes destinations and companies in the process of "money laundering" figures, indicating that the central bank did not take any action against these banks.

Analysts and economists have confirmed the existence of political parties behind the phenomenon of money revealed by the parliamentary Finance Committee smuggling of "confirming the presence of a lot of political beneficiaries of increased dollar selling to finance their own interests.