Iraq reserves of hard currency threatens to bankrupt


2016-09-04 at 09:28


Baghdad the balance of news

Member of the Parliamentary Committee on the economy and investment Abdul Salam Al-Maliki, Sunday, the low level of cash reserve of hard currency to low levels threaten serious disasters in the short and long and could threaten to bankrupt Iraq and drowning in debt.

Maliki said in a statement/balance of news, a copy of it, that there are many actions included suspicions of corruption and fraud in what is known as window sale of foreign currency at the Central Bank, which caused the depletion of the currency of the country and led to the decline of dollar reserves in the vault which was more than $ 80 billion to an unknown number could not Central Bank declared.

"We have confirmed information indicates the low level of cash reserve of hard currency to low levels threaten serious disasters in the short and long and could threaten to bankrupt Iraq and drowning in debt.

"There's a vast difference between the price approved by the local market price to the Central Bank, allowing the spoilers and behind them to deprive the Government of tax began adding to deprive the Iraqi citizen of the usefulness of the real exchange rate."

"The Central Bank has failed to control exchange rates of hard currencies despite promises made and actions undertaken, resulting in increased wealth of spoilers and increasing poverty.

Maliki blamed the Central Bank "the responsibility for this corruption and waste the riches of an interesting way people untainted by which corrupt the internal economy drain", warning of "exemplary actions in interrogating and holding accountable those responsible for this negligence and negligence in failing to take swift action to stop this."


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