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Parliamentary Finance: The government would appeal in the "central" sales restrictions likely
3/8/2015
Finance Committee in the House of Representatives suggesting that the government is moving to challenge substance identified in the budget ceiling of the central bank from the sale of certain foreign currency, which is one of the main modifications within (17 articles) introduced by the Parliament during the sessions saw the adoption of the budget law in the month of January last. It also defends adjusted to that paragraph says it guarantees not to waste money, a spokeswoman for the big money has been "bleached" in the past years. This comes at a time criticizing an economist intercalation "paragraph central bank" within the budget law, and considers it one of the reasons for the instability of (dollar) in the exchange rate in recent times, suggesting that citizens in panic due to the fluctuation of exchange rates, and the recent financial impact will continue for several years. The Cabinet decided Tuesday to authorize boss Haider Abadi right to challenge some of the provisions and articles contained in the federal budget for the current 2015 law, and to present its provisions and materials contested on the committee of the crisis. He says the Finance Committee member Massoud Rustam "long" that " Parliament has not yet received a formal letter of appeal government paragraphs budget ", but it is likely that it probably would appeal to Article own set daily sales of the Central Bank of the dollar 75 million dollars a day, based on" an earlier objection issued by some parties of the government, which has refused to this article. "
and defends Rustam for Add parliament that paragraph, saying "We have information we will ensure them, the existence of cases of corruption and money laundering of money - refused mentioned Balthdid- contributed by the central bank sales over the past ten years."
He said Rustam said that "the information is pushed Parliament and Commission Finance to restrict Central sales of the dollar for fear of wasting money. "
Parliament has been added and amended about 17 items in the budget law, notably Article 50, which states that "adhere to the Central Bank determines sales of foreign currency (dollar) in daily auction ceiling not to exceed 75 million dollars a day with exercise justice in the sales process. " And other materials related to reducing the number of cars of the three presidencies to five cars and the allocation of three cars each minister, and pressure Alaivadat Foreign Posts 50%, and compel the Ministry of Finance and ministries all under salaries and employee benefits exchange in the provinces in the hot spots, and install the contract-holders in the ministries who have three service years and older in the budget of 2015 and the creation of the reconstruction of areas devastated by the terror Fund, and the allocation of two dollars for each province producing oil, and two dollars for refining every barrel of oil.
But Aziz Hassoun, who is an expert in banking affairs and the economy, criticizing Article 50 of the budget in 2015, he says, for " term "that" these extraneous material on the budget and is not related to the law of state funds and the doors of department spending. "
He adds that the Goldfinch "determine the central bank sales in its daily auction from the sale of the dollar contributed to the Tzbb currency rates." As "The instability of the dollar was due to panic Iraqis from news of government scarcity of liquidity, prompting everyone to turn on the switch of the national currency to the dollar."
He says Hassoun that "the government is the source of pumping money into the market, while scarce liquidity of the government, the banks have to non-fulfillment obligations of borrowers who provide services to the government (equipped and contractors) and delivery of other customers for their money. "
He adds Hassoun that "last year closed the banks on a wide range of obstructed loans that have not paid, and I tried this year, the allocation of funds to cover the deficit through earnings, so bogged down economic cycle and began to banks facing mounting customer requests money after some banks have restricted the launch of the money deposited with it. " Criticizes Goldfinch Central Bank, which says that he "has tools to decode distress banks, through monetization of assets, Verhn bank bonds and turn it into money," stressing that "the central bank has a large stock of money, because Aovernmh- experiencing a crisis in Alsjulh- not have dollars to give it to Central to turn him into a dinars. "
and other solutions, says banking expert that "banks achieved a surplus of money at the end of each working day, the international banks are not taken to be stored, but converted to other banks in the case of cooperation between banks to achieve liquidity to meet the demands of customers, but this is not is in Iraq. "
In contrast, the effects are likely Goldfinch current financial crisis will continue for years because of poor economic planning and Tdharbh, and "dispel" more than 75% of the income earned in an operating budget. It also says that consumer behavior during this phase change and comply with the sale and purchase transactions.
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3/8/2015
Finance Committee in the House of Representatives suggesting that the government is moving to challenge substance identified in the budget ceiling of the central bank from the sale of certain foreign currency, which is one of the main modifications within (17 articles) introduced by the Parliament during the sessions saw the adoption of the budget law in the month of January last. It also defends adjusted to that paragraph says it guarantees not to waste money, a spokeswoman for the big money has been "bleached" in the past years. This comes at a time criticizing an economist intercalation "paragraph central bank" within the budget law, and considers it one of the reasons for the instability of (dollar) in the exchange rate in recent times, suggesting that citizens in panic due to the fluctuation of exchange rates, and the recent financial impact will continue for several years. The Cabinet decided Tuesday to authorize boss Haider Abadi right to challenge some of the provisions and articles contained in the federal budget for the current 2015 law, and to present its provisions and materials contested on the committee of the crisis. He says the Finance Committee member Massoud Rustam "long" that " Parliament has not yet received a formal letter of appeal government paragraphs budget ", but it is likely that it probably would appeal to Article own set daily sales of the Central Bank of the dollar 75 million dollars a day, based on" an earlier objection issued by some parties of the government, which has refused to this article. "
and defends Rustam for Add parliament that paragraph, saying "We have information we will ensure them, the existence of cases of corruption and money laundering of money - refused mentioned Balthdid- contributed by the central bank sales over the past ten years."
He said Rustam said that "the information is pushed Parliament and Commission Finance to restrict Central sales of the dollar for fear of wasting money. "
Parliament has been added and amended about 17 items in the budget law, notably Article 50, which states that "adhere to the Central Bank determines sales of foreign currency (dollar) in daily auction ceiling not to exceed 75 million dollars a day with exercise justice in the sales process. " And other materials related to reducing the number of cars of the three presidencies to five cars and the allocation of three cars each minister, and pressure Alaivadat Foreign Posts 50%, and compel the Ministry of Finance and ministries all under salaries and employee benefits exchange in the provinces in the hot spots, and install the contract-holders in the ministries who have three service years and older in the budget of 2015 and the creation of the reconstruction of areas devastated by the terror Fund, and the allocation of two dollars for each province producing oil, and two dollars for refining every barrel of oil.
But Aziz Hassoun, who is an expert in banking affairs and the economy, criticizing Article 50 of the budget in 2015, he says, for " term "that" these extraneous material on the budget and is not related to the law of state funds and the doors of department spending. "
He adds that the Goldfinch "determine the central bank sales in its daily auction from the sale of the dollar contributed to the Tzbb currency rates." As "The instability of the dollar was due to panic Iraqis from news of government scarcity of liquidity, prompting everyone to turn on the switch of the national currency to the dollar."
He says Hassoun that "the government is the source of pumping money into the market, while scarce liquidity of the government, the banks have to non-fulfillment obligations of borrowers who provide services to the government (equipped and contractors) and delivery of other customers for their money. "
He adds Hassoun that "last year closed the banks on a wide range of obstructed loans that have not paid, and I tried this year, the allocation of funds to cover the deficit through earnings, so bogged down economic cycle and began to banks facing mounting customer requests money after some banks have restricted the launch of the money deposited with it. " Criticizes Goldfinch Central Bank, which says that he "has tools to decode distress banks, through monetization of assets, Verhn bank bonds and turn it into money," stressing that "the central bank has a large stock of money, because Aovernmh- experiencing a crisis in Alsjulh- not have dollars to give it to Central to turn him into a dinars. "
and other solutions, says banking expert that "banks achieved a surplus of money at the end of each working day, the international banks are not taken to be stored, but converted to other banks in the case of cooperation between banks to achieve liquidity to meet the demands of customers, but this is not is in Iraq. "
In contrast, the effects are likely Goldfinch current financial crisis will continue for years because of poor economic planning and Tdharbh, and "dispel" more than 75% of the income earned in an operating budget. It also says that consumer behavior during this phase change and comply with the sale and purchase transactions.
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