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Expert: Dollarization is a big mistake that can not be prevented soon
22/01/2015 20:26
Said an economist, on Thursday, the domestic economic deal in dollars of the biggest mistakes in monetary policy in the country.
The expert said Essam Mahouelle told / information /, that "excessive dealing currency dollar by failing financial policies (dollarization), one of the biggest mistakes in monetary policy in the state," noting that "should the Iraqi currency to adopt in the future, especially in the insider albeit difficult."
He added that "can not be applied to reduce dependence on foreign currencies, especially the dollar on the ground, because most of Merchandising imported from abroad in addition to the economic situation in Iraq's fragile something to fear merchants in reliable," explaining that "the decline in oil prices led to inflict great damage to the Iraqi dinar."
"The weakness of the government and the authority of the state leads to not to impose its control in the country's economic policies draw" noting that "the United States prohibits dealing in other currencies and does not deal only in dollars."
The country suffers from a major financial crisis as a result of falling world oil prices, which constitutes 90% of fiscal revenue involved in building the country's budget.
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22/01/2015 20:26
Said an economist, on Thursday, the domestic economic deal in dollars of the biggest mistakes in monetary policy in the country.
The expert said Essam Mahouelle told / information /, that "excessive dealing currency dollar by failing financial policies (dollarization), one of the biggest mistakes in monetary policy in the state," noting that "should the Iraqi currency to adopt in the future, especially in the insider albeit difficult."
He added that "can not be applied to reduce dependence on foreign currencies, especially the dollar on the ground, because most of Merchandising imported from abroad in addition to the economic situation in Iraq's fragile something to fear merchants in reliable," explaining that "the decline in oil prices led to inflict great damage to the Iraqi dinar."
"The weakness of the government and the authority of the state leads to not to impose its control in the country's economic policies draw" noting that "the United States prohibits dealing in other currencies and does not deal only in dollars."
The country suffers from a major financial crisis as a result of falling world oil prices, which constitutes 90% of fiscal revenue involved in building the country's budget.
[You must be registered and logged in to see this link.]
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