Economic Commission: the government can not protect the citizen but economically stable currency
On: Wednesday 04/11/2012 20:51

Concern hangs over the financial circles and the Council of Ministers looking for solutions

BAGHDAD - Alaa al-Tamimi
Called a member of the parliamentary economic committee on the government to set monetary policy consistent and not floundering confirming the presence of corruption and bribes in the market for auction the central bank currency.
A member of the Amer winner's (Citizen): »that the key step to stop the depreciation of the dinar over the foreign currency is to control the market, Central Bank auction for currency, because the corruption and bribes».,

And added »that the cooperation of the State with the Central Bank to control the currency in which to seep into the abroad »., adding» to set monetary policy consistent and not floundering of the things that limit the decline in Iraqi currency and that the task of the government »., and pointed out that» the government is not able to protect the owners of low-income people from being affected by this decline »., Ray»

The government can not protect the citizens economically, but the stability of the exchange rate ». stressing» that this decline will result in a rise in all prices and thus the citizen will be killed »for its part, announced that the General Secretariat of the Council of Ministers set up a committee to study the fluctuation of the exchange rate of the Iraqi dinar.

A statement by the Secretariat on Wednesday that« Council of Ministers face to form a committee headed by Deputy Prime Minister for Economic Affairs (Rose Nuri al-Shawish) and the membership of the Deputy Prime Minister for Energy (Hussein Shahristani) and members of the Committee on Economic Affairs and the Secretary General of the Council of Ministers (on the Keywords) ».

He added that« the Commission will consider the issue of fluctuating exchange rate Iraqi dinar recently, in addition to proposing appropriate solutions and to address and prevent harm to the national economy «. The statement pointed out that« the committee will also considering the high prices of some foodstuffs, fish, vegetables, fruit and other commodities of daily consumption and develop appropriate solutions to lower prices «, stressing that

«Directive of the Council of Ministers refers to the Committee to submit the results of its work and its recommendations and proposals in the final as soon as possible to the General Secretariat of the Council of Ministers for presentation at a session of the Council«. this and see the Iraqi market rise significantly in the exchange rate of the dollar against the Iraqi dinar, reaching hair buy the dollar to 1300 dinars in While the price specified by the Central Bank to this day is 1166 dinars, an increase of 134 dinars per dollar, and this equates to about 11 percent of the price specified formally ».

The central bank has attributed and on the lips of the Vice Province Bank Mazhar Mohammad Saleh high exchange rate of the dollar and increased demand in Iraq to the global financial restrictions imposed on some neighboring countries, referring to Syria and Iran.