Specialists warn of the devaluation of the dinar against the dollar & CBI denies
Specialists warn of the devaluation of the dinar against the dollar and the central bank denies
News Source: Ali Abd al-Salman
December 24, 2015 9:06
Counting specialists, economists and businessmen, to reduce the value of the dinar against the dollar "error" involves "serious repercussions middle and poor layers", in the absence of industry or agriculture and national "real" able to meet the needs of the citizens, as the central bank denied the existence of an intention to devalue Dinar, the Parliamentary Finance Committee stressed the need to support the private sector about my grandfather and to allow him to be able to contribute to the revitalization of the national economy.
Specialize: reduce the dinar against the dollar exacerbates the suffering of the poor, says economic reform Institute adviser Ahmed al-Husseini, in an interview, "The devaluation of the dinar against the dollar error involves a very serious implications," noting that it "leads to inflation, especially in light of the austerity experienced by the State and reduction of salaries.
"He adds Husseini, that" the thrust of such a procedure requires the presence of the production of goods and services to be covered, and not, as is the case in Iraq, where almost are imported everything, "adding that" the central bank went to lift the dollar exchange rate, would hurt the middle class and exacerbate the suffering of the poor more, what requires him (the central bank) to pay attention to the consequences of that. "
Turn says a member of the Union of Entrepreneurs Muhannad Sabri, in an interview, said that there is "confusion in the political decisions of the government reflected negatively on the economic reality," she returned to " prosthetic solutions do not benefit the Iraqi economy and the government must find a radical solution mono economy side, which depends almost almost entirely on oil."
Explains Sabri, that" Iraq is a sorry state of dependence on oil ", calling for the need to" revitalize agriculture, industry, tourism and other sectors important to diversify national income resources."
And see a member of the Union of Entrepreneurs, to" raise the value of the dinar will reflect negatively certainly on the commercial reality which would lead to an unequal equation as a result of the abundance of the dinar against the lack of the dollar, in most of the country's business dealings in dollars, and imports almost everything."
And confirms Sabri, that "the decision to reduce the value of the dinar will be correct only if a real production and national industry obviates the importer and meets the need of the citizens are available."
The central bank denies devaluation of the dinar and says a source at the Central Bank in an interview that "the sale price of the dollar has not changed and still the equivalent of a thousand and 166 dinars, "noting that" the Board of the Central Bank's management met a few days ago has not been included on its adjusted sale price of the dollar against the dinar table, but did not think so at all."
Adds the source, who asked not to be named, said:" The central bank seeks always to find solutions that support the Iraqi dinar and maintain stability. "
Financial parliamentary: no alternative to stimulate the private sector, says the Finance Committee in the House of Representatives decision Ahmed Hama Rasheed, in a newspaper interview that" the Central Bank's mission is to maintain the dinar and support, and he has to be a level Therefore, "stressing that there is" a lot of initiatives and plans that have been developed on the shelves of the Ministry of Planning without activated.
"stresses Rashid on the need to" support the private sector about my grandfather and to allow him to be able to stand up and contribute to the revitalization of the national economy.
"The local media recently I picked up the intention of the central bank cut the value of the dinar against the dollar, raising the unexpected sell the dollar to banks and exchange companies rate, by 16 dinars, an increase of 1.37 percent, becoming the selling price and 182 thousand dinars instead of 116 thousand dinars.
This is a repeat article from yesterday posted on a different site -LOOP