Open Letter to the Prime Minister of the Council of Ministers

Samir Nusair – Although I respect the other opinion issued by politicians who do not live in Iraq or specialists in the economy and money, some of them live with us the concerns and challenges experienced by Iraq and its people but I may disagree with the opinion that tries to diminish and diminish the character of the achievements of Iraq in the face of economic and financial crisis during the past four years The most difficult stage passed by Iraq for decades. Where I noticed that some politicians and specialists have directed during the past few days the arrows of criticism and objections and accusations to the Central Bank and to discuss with them their criticism calmly and petrified in the interests of the national top, I say to them:

After mid-2014, Iraq suffered two economic and security shocks due to the war on terrorism on behalf of the world’s countries and the decline in oil prices, the main supplier of Iraq by more than 70%. So the men of Iraq had to confront these two shocks.

As such confrontations have their customs and laws. In military practice, armed military forces can not achieve victory over the enemy without a civil effort and the most important effort. The most important effort must be provided by the government and its agencies. The private sector is the economic effort that contributes to the military victory. Decisive.

This has already been achieved and the work and reality by the team of the National Central Bank of Iraq distinguished led by the governor of perseverance. It asks the Arab and international economic organizations and observers of the economic movement of countries and their experiences in overcoming the crises and achieving economic reform to assess the stage of the previous four years in which our country faced an economic and financial crisis suffocating the well-known causes in which victory is achieved on terrorism accompanied by another victory is the steadfastness and economic victory which was In which the Iraqi Central Bank team plays a key role in achieving it. The most important of these is the support of the State Treasury with 21 trillion dinars, stability in the exchange rate, recovery of the Iraqi dinar, reduction of inflation, maintenance of less than 2%, maintaining a foreign exchange reserve of 160% as a cumulative accumulation according to the latest standard.

To the IMF with a reserve of gold within an excellent record rate. In addition to its adoption, standards and regulations are in line with the requirements of international standards and the basic and subsidiary objectives of the strategy set up to 2020 and the activation and consolidation of new visions of monetary policy applications. The important thing that has been achieved is the stability of the exchange rate for ten months and the reduction of the gap between the official price of the US dollar and the price in the parallel market Trust banking transactions between him and Arab and foreign banks and work to build a solid banking sector and continue to make extraordinary efforts to improve the reputation of banking institutions and international financial organizations and correspondent banks.

And building strong relations with Arab and foreign central banks and international financial organizations. Also, procedural, regulatory, structural and development policies were designed to achieve financial stability and develop the banking business technically, structurally and organizationally and raise the percentage of financial coverage to the target ratio. Banking thus form a solid base on both home and abroad.

At the same time, we congratulate the Iraqi people, their military and security forces, and all popular people for the victory over terrorism and its eradication from the land of Iraq. We congratulate the Central Bank for achieving economic stability and financial victory. We hope that the Prime Minister, who is in charge of the above facts, will not hide from the Prime Minister. He presents his new ministerial cabinet with our wishes to him and our future government for success and success in serving Iraq, its people and its national economy.

* Economic and banking consultant

Source: Economy-news.net