Warning of the danger of the coin 25,000 dinars smuggling 2/25
Warning of the danger of the coin 25,000 dinars smuggling
Thursday , February 25, 2016
Called a specialist in economic affairs Raad Twigg, the central bank to monitor the currency movement of a class / 25 / thousand dinars and restricting circulation in the central and southern regions.
He said Twigg told the National Iraqi News Agency / NINA / "The cases of smuggling repeated mafias Kurdish and most recently smuggling / 300 / billion dinars from the category / 25 / thousand dinars aimed at the Iraqi currency unloaded from the core unit to create a cash crisis and instability of the monetary system and the Iraqi work shortage in the money market and the state of imbalance between the denominations. "
Said Twigg, said that" the enjoyment of the category of / 25 / thousand dinars specifications real currency of permanence and convenience, security and high content value system of higher and drafting technical and high-end physical paper precious, and in addition to all this, and more importantly, is that it is the class that is 60% of the money supply and thus, the mafias in Turkey and the Kurdistan smuggled longer process to unload the currency Iraqi core to create a cash crisis in the center-south unity. "
He added that" smuggling / 300 / billion dinars by those mafias from northern Iraq to Turkey is one of the biggest economic crimes, therefore the central bank to monitor these cash Category movement and restricting circulation in the central and southern regions .
It is said that the Office of the Prime Minister Haider al-Abadi, called in earlier this month, the Iraqi Central Bank to review its policy on foreign currency smuggling, stressing that the central bank's policies as an independent government can not be a party to work details and management of fiscal and monetary policy, they are under the jurisdiction of the central bank such as the sale of foreign currency and its outlets, pointing out that it's policy determined by the Bank as an independent body.
The parliamentary Finance Committee confirmed the ownership documents of destinations and companies in the process of "money laundering" figures, indicating that the central bank did not take any action against these banks.
The estimated Finance Committee money leaked size to abroad since 2006 by about $ 300 billion, pointing to the involvement of banks and companies such operations across four countries and then go to unknown destinations.
The official document of the Finance Committee in Parliament revealed that the central bank sold the amount of the US dollar in the past year, 2015 more of Iraq's imports of foreign currency obtained from the sale of crude oil in the same year.
The document showed that the country's oil revenues for the year 2015 amounted to $ 38 billion, while sales of the bank was the same year more than $ 44 billion, a difference of five billion dollars, that is beyond what sold Iraq of foreign currency more than its imports from them.
The Iraq faces a financial crisis due to the sharp decline of oil, where the financial budget for this year with a total expenditure of more than 105 trillion deficit accounted for 22.8%, reaching a total revenue of the 81 trillion and 700 billion dinars, and the oil revenues which 69 trillion and 773 billion dinars The increase of 85.1% of total revenues, while non-oil revenues amounted to more than 11 trillion and 927 billion dinars The increase of 13.6% of total revenue.