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Governor of the Central Bank: No fear of the rise of the dollar and we will bring local bonds worth $ 5 billion [expanded]
2015/6/20
[Baghdad-where]
The governor of the Iraqi Central Bank and the Agency on the Keywords lack of fear of the rise in the dollar's exchange rate against the Iraqi dinar "revealing" Ask a local bonds worth $ 5 billion to provide liquidity to the state. "
Keywords and said at a news conference in Baghdad attended by the correspondent of the agency all of Iraq [where], "The central bank has foreign currency is the weakness of the local currency in the market, and what happened in the past few days indicates that these attempts involve the kind of speculation and profit-taking may also involve on the other targets I do not want to enter into details because this is definitely a rise in the indicators is natural But are these Mahalaot stand the central bank's policy certainly both an emergency on the market. "
He said the "local currency derives its strength from the reserve currency, foreign and how much you can last that covers local and we assure that we can respond to the request of the dollar no matter what its size reached and there is no concern on the impact of the exchange rate," adding that "the financial reserves of the Central Bank is the number variable and today of up to $ 68 billion and the size of the money supply of the dinar 40 trillion dinars. "
And between Keywords that "the subject of the independence of the central bank is very important in maintaining the political bank fee and decisions and I can not say that there is pressure directly is still the independence of the Bank with most of those respectable but some pressures and statements that affect the operation of the bank, including the House of Representatives, which does not occur take the correct way creates a climate of fear in the banking sector, which is very sensitive in his dealings, "adding that" some interventions may be unintended directly. "
"It is certain that the rise of the dollar in this way is natural and within hours reflect a certain movement within the market but I can not directed directly accused of any party or bank and possibly the security services in economic crime is the closest to it," noting that "increase demand for the dollar is due to size and the migration of large imports of capital and even the private sector has become invested in other countries. "
He noted the central bank governor that "the exchange rate may be affected by an increase in consumer and government spending, which pumps the bulk of the budget in the market for central bank to Aausband pressure on the dollar and there is constant consultation between monetary and fiscal policy and a high degree of coordination, but an almost daily basis between the bank and the Finance Ministry in consult the way you avoid lax spending or incorrectly calculated and thus affect the exchange rate. "
"The rise and fall of the exchange rate is a global phenomenon, but the central bank is not a security point of traces that there was political agendas or other behind this volatility in prices, the important thing for us pull factors that exploit such circumstances and are able to control these phenomena."
He "can not be held accountable for the central bank because there are imbalances in the bills or dues and this is not his mission, but the responsibility of the concerned government authorities Kozara trade and finance, which is important to develop an approach importing ones so that the central bank's policy to consider them," noting that "the central banks in both countries the world do not take other roles of the parties responsible for such operations. "
Keywords and pointed to "the dollar exchange rate today is 1250 dinars to the dollar [125 000 dinars for one hundred dollars and I expect that the new processes to sell the currency without 8% in taxes and fees will lead to the decline and are sure of it."
And "We sell in the daily bank auction amount of the dollar more than $ 75 million set in the budget law the fact that we have no objection to the amount of sales cash Valssayash essence is to use these goals and if they restricted in advance they are robbed of the flexibility of the bank," adding that "these sales at auction Bank vary according to supply and demand, but more than identified in the budget, "he said," There is no intention to change our exchange rate at the auction. "
And he went on the central bank governor saying that "in the case of inflation may interfere with the central bank to try to withdraw liquidity from the market," noting that "the inflation rate in Iraq today indicate a record decline currently up 1.7% and the Bank does not currently calls for intervention to change the exchange rate being a record high by international standards including in respect of inflation. "
He called Keywords "not to worry or fear indicators for the oil sector, production and we have direct contact with the Ministry of Oil, which represents an important indicator dollar that comes from the central bank is issued by Iraq's oil and say we do not have a problem in the flow of dollars to the Central Bank and there is an improvement in the production and export level The prices of oil and we hold a great deal of optimism with the availability of liquidity indicators to restore a lot of the occupied territories of Daash ".
"This is an opportunity for all of us in Iraq to stand on the shock that I got and call us at the national thinking why demand for the dollar this size, analysis and stress today with the Association of Banks meeting that there is a position of understanding and agreement on the translation steps and read the phenomena correctly and set directions for understanding and take necessary measures to stabilize prices and avoid the occurrence of such shocks in the future. "
In replying to a question by a reporter [where] on concern Employees to receive their salaries the timing or the state bankrupt Governor of the Central Bank on the Keywords that said "Iraq's oil country currently exports more than 3 million barrels and have a cash reserve of foreign in Bank currency $ 68 billion." .
He stressed that "Iraq is not a bankrupt state, but there is a problem in the provision of liquidity, but it is not up to the point of threatening the employees' salaries to secure and we still did not exhaust all sources and resources that cover the deficit and we are working very closely to fill any problem in this area," ruling out "the possibility of payment of staff salaries dollar and the central bank will not accept the internationalization of the Iraqi economy, "stressing that" the Iraqi dinar is still strong. "
He also stressed that "the central bank's past to issue paper dinar both categories of 50 thousand and 100 000 dinars after a thorough study of the subject," noting that "50 class thousand dinars in press currently in preparation for the pumped into the market by the end of this year," pointing out that "the request to postpone issuing a class 100 in anticipation of a sudden get inflation of dinars and that the current financial situation in the country requires the gradient to issue two new categories of currency ".
He revealed Keywords for "approval cell crisis on the proposal in a cell crisis would go to the central bank which is that the Ministry of Finance will issue bonds in dollars-term $ 5 billion put to the audience and be a dollar at the official rate minus a certain percentage bought by the public and pay him in dollars after a year pay at the official dollar minus a certain percentage approaching interest rate, "he said." We have been approved this proposal and instructed the Central Bank of as a financial advisor to the government of running this release immediately and we will start offering the bonds to the public they will bring us good financial source ".
--
June 20, 2015 at 8:00 AM Flag Quote & Reply
Tgirl
Administrator
Posts: 38483
He explained that "existing securities sale in the budget law and allowed to issue $ 12 billion in bonds to pay off the dues of oil companies and we proposed to the Ministry of Finance and the Prime Minister that try to issue bonds rather than taking dollars from overseas bonds and afford significant benefits them and we raised that these bonds be local and I think This step is beginning to create a bond market being so lacking and this bond is one of the goals that we're working on. "
And depriving the 15 banks and banking companies from participating auction Central Bank Keywords said that "this issue is not a new process which gets continuously to stop some irregularities and abuses."
For his part, the depositary of the bitter melon head of the Association of Banks said during the press conference, "We have a recurring weekly workshops with the central bank, and decisions will be issued in proportion to the reality of the situation in the market."
"The inflation rate in Iraq is almost non-existent compared to our neighboring countries, and can be considered a profit margin achieved for the banks, because it has the salaries and allowances of rents."
He pointed out that "the decisions made by the Central Bank, and the issue of 8% in taxes and fees filed to ease the burden on the citizen, since they make up 90% on the exchange rate, as well as the subject of the auction, which was 15 days, then 10 days, and five days, in addition to opening banks on Saturday where a citizen can review, and here we have become a six-day work, "noting that" these ingredients that have accumulated give us support and strength and support to continue. "
He explained Handal "There was a premonition about the high price, and when you open a dialogue with the central bank and banks joined forces with some of them down the exchange rate, and these factors we now find an open and frank dialogue and properly comply with the monetary policy pursued by the Central Bank of Iraq and we appreciate this policy."
"In some cases, the movement of some of the views that come from some politicians or dealers in the auction the dollar and lead to panic and fear, and we hope that politicians who issue statements from time to time convey the truth of the central bank."
He said the "panic and fear reflected negatively on the country's foreign trade and reflected its confidence with Iraq" .anthy
Keywords and said at a news conference in Baghdad attended by the correspondent of the agency all of Iraq [where], "The central bank has foreign currency is the weakness of the local currency in the market, and what happened in the past few days indicates that these attempts involve the kind of speculation and profit-taking may also involve on the other targets I do not want to enter into details because this is definitely a rise in the indicators is natural But are these Mahalaot stand the central bank's policy certainly both an emergency on the market. "
He said the "local currency derives its strength from the reserve currency, foreign and how much you can last that covers local and we assure that we can respond to the request of the dollar no matter what its size reached and there is no concern on the impact of the exchange rate," adding that "the financial reserves of the Central Bank is the number variable and today of up to $ 68 billion and the size of the money supply of the dinar 40 trillion dinars. "
And between Keywords that "the subject of the independence of the central bank is very important in maintaining the political bank fee and decisions and I can not say that there is pressure directly is still the independence of the Bank with most of those respectable but some pressures and statements that affect the operation of the bank, including the House of Representatives, which does not occur take the correct way creates a climate of fear in the banking sector, which is very sensitive in his dealings, "adding that" some interventions may be unintended directly. "
"It is certain that the rise of the dollar in this way is natural and within hours reflect a certain movement within the market but I can not directed directly accused of any party or bank and possibly the security services in economic crime is the closest to it," noting that "increase demand for the dollar is due to size and the migration of large imports of capital and even the private sector has become invested in other countries. "
He noted the central bank governor that "the exchange rate may be affected by an increase in consumer and government spending, which pumps the bulk of the budget in the market for central bank to Aausband pressure on the dollar and there is constant consultation between monetary and fiscal policy and a high degree of coordination, but an almost daily basis between the bank and the Finance Ministry in consult the way you avoid lax spending or incorrectly calculated and thus affect the exchange rate. "
"The rise and fall of the exchange rate is a global phenomenon, but the central bank is not a security point of traces that there was political agendas or other behind this volatility in prices, the important thing for us pull factors that exploit such circumstances and are able to control these phenomena."
He "can not be held accountable for the central bank because there are imbalances in the bills or dues and this is not his mission, but the responsibility of the concerned government authorities Kozara trade and finance, which is important to develop an approach importing ones so that the central bank's policy to consider them," noting that "the central banks in both countries the world do not take other roles of the parties responsible for such operations. "
Keywords and pointed to "the dollar exchange rate today is 1250 dinars to the dollar [125 000 dinars for one hundred dollars and I expect that the new processes to sell the currency without 8% in taxes and fees will lead to the decline and are sure of it."
And "We sell in the daily bank auction amount of the dollar more than $ 75 million set in the budget law the fact that we have no objection to the amount of sales cash Valssayash essence is to use these goals and if they restricted in advance they are robbed of the flexibility of the bank," adding that "these sales at auction Bank vary according to supply and demand, but more than identified in the budget, "he said," There is no intention to change our exchange rate at the auction. "
And he went on the central bank governor saying that "in the case of inflation may interfere with the central bank to try to withdraw liquidity from the market," noting that "the inflation rate in Iraq today indicate a record decline currently up 1.7% and the Bank does not currently calls for intervention to change the exchange rate being a record high by international standards including in respect of inflation. "
He called Keywords "not to worry or fear indicators for the oil sector, production and we have direct contact with the Ministry of Oil, which represents an important indicator dollar that comes from the central bank is issued by Iraq's oil and say we do not have a problem in the flow of dollars to the Central Bank and there is an improvement in the production and export level The prices of oil and we hold a great deal of optimism with the availability of liquidity indicators to restore a lot of the occupied territories of Daash ".
"This is an opportunity for all of us in Iraq to stand on the shock that I got and call us at the national thinking why demand for the dollar this size, analysis and stress today with the Association of Banks meeting that there is a position of understanding and agreement on the translation steps and read the phenomena correctly and set directions for understanding and take necessary measures to stabilize prices and avoid the occurrence of such shocks in the future. "
In replying to a question by a reporter [where] on concern Employees to receive their salaries the timing or the state bankrupt Governor of the Central Bank on the Keywords that said "Iraq's oil country currently exports more than 3 million barrels and have a cash reserve of foreign in Bank currency $ 68 billion." .
He stressed that "Iraq is not a bankrupt state, but there is a problem in the provision of liquidity, but it is not up to the point of threatening the employees' salaries to secure and we still did not exhaust all sources and resources that cover the deficit and we are working very closely to fill any problem in this area," ruling out "the possibility of payment of staff salaries dollar and the central bank will not accept the internationalization of the Iraqi economy, "stressing that" the Iraqi dinar is still strong. "
He also stressed that "the central bank's past to issue paper dinar both categories of 50 thousand and 100 000 dinars after a thorough study of the subject," noting that "50 class thousand dinars in press currently in preparation for the pumped into the market by the end of this year," pointing out that "the request to postpone issuing a class 100 in anticipation of a sudden get inflation of dinars and that the current financial situation in the country requires the gradient to issue two new categories of currency ".
He revealed Keywords for "approval cell crisis on the proposal in a cell crisis would go to the central bank which is that the Ministry of Finance will issue bonds in dollars-term $ 5 billion put to the audience and be a dollar at the official rate minus a certain percentage bought by the public and pay him in dollars after a year pay at the official dollar minus a certain percentage approaching interest rate, "he said." We have been approved this proposal and instructed the Central Bank of as a financial advisor to the government of running this release immediately and we will start offering the bonds to the public they will bring us good financial source ".
He explained that "existing securities sale in the budget law and allowed to issue $ 12 billion in bonds to pay off the dues of oil companies and we proposed to the Ministry of Finance and the Prime Minister that try to issue bonds rather than taking dollars from overseas bonds and afford significant benefits them and we raised that these bonds be local and I think This step is beginning to create a bond market being so lacking and this bond is one of the goals that we're working on. "
And depriving the 15 banks and banking companies from participating auction Central Bank Keywords said that "this issue is not a new process which gets continuously to stop some irregularities and abuses."
For his part, the depositary of the bitter melon head of the Association of Banks said during the press conference, "We have a recurring weekly workshops with the central bank, and decisions will be issued in proportion to the reality of the situation in the market."
"The inflation rate in Iraq is almost non-existent compared to our neighboring countries, and can be considered a profit margin achieved for the banks, because it has the salaries and allowances of rents."
He pointed out that "the decisions made by the Central Bank, and the issue of 8% in taxes and fees filed to ease the burden on the citizen, since they make up 90% on the exchange rate, as well as the subject of the auction, which was 15 days, then 10 days, and five days, in addition to opening banks on Saturday where a citizen can review, and here we have become a six-day work, "noting that" these ingredients that have accumulated give us support and strength and support to continue. "
He explained Handal "There was a premonition about the high price, and when you open a dialogue with the central bank and banks joined forces with some of them down the exchange rate, and these factors we now find an open and frank dialogue and properly comply with the monetary policy pursued by the Central Bank of Iraq and we appreciate this policy."
"In some cases, the movement of some of the views that come from some politicians or dealers in the auction the dollar and lead to panic and fear, and we hope that politicians who issue statements from time to time convey the truth of the central bank."
He said the "panic and fear reflected negatively on the country's foreign trade and reflected its confidence with Iraq" .anthy
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2015/6/20
[Baghdad-where]
The governor of the Iraqi Central Bank and the Agency on the Keywords lack of fear of the rise in the dollar's exchange rate against the Iraqi dinar "revealing" Ask a local bonds worth $ 5 billion to provide liquidity to the state. "
Keywords and said at a news conference in Baghdad attended by the correspondent of the agency all of Iraq [where], "The central bank has foreign currency is the weakness of the local currency in the market, and what happened in the past few days indicates that these attempts involve the kind of speculation and profit-taking may also involve on the other targets I do not want to enter into details because this is definitely a rise in the indicators is natural But are these Mahalaot stand the central bank's policy certainly both an emergency on the market. "
He said the "local currency derives its strength from the reserve currency, foreign and how much you can last that covers local and we assure that we can respond to the request of the dollar no matter what its size reached and there is no concern on the impact of the exchange rate," adding that "the financial reserves of the Central Bank is the number variable and today of up to $ 68 billion and the size of the money supply of the dinar 40 trillion dinars. "
And between Keywords that "the subject of the independence of the central bank is very important in maintaining the political bank fee and decisions and I can not say that there is pressure directly is still the independence of the Bank with most of those respectable but some pressures and statements that affect the operation of the bank, including the House of Representatives, which does not occur take the correct way creates a climate of fear in the banking sector, which is very sensitive in his dealings, "adding that" some interventions may be unintended directly. "
"It is certain that the rise of the dollar in this way is natural and within hours reflect a certain movement within the market but I can not directed directly accused of any party or bank and possibly the security services in economic crime is the closest to it," noting that "increase demand for the dollar is due to size and the migration of large imports of capital and even the private sector has become invested in other countries. "
He noted the central bank governor that "the exchange rate may be affected by an increase in consumer and government spending, which pumps the bulk of the budget in the market for central bank to Aausband pressure on the dollar and there is constant consultation between monetary and fiscal policy and a high degree of coordination, but an almost daily basis between the bank and the Finance Ministry in consult the way you avoid lax spending or incorrectly calculated and thus affect the exchange rate. "
"The rise and fall of the exchange rate is a global phenomenon, but the central bank is not a security point of traces that there was political agendas or other behind this volatility in prices, the important thing for us pull factors that exploit such circumstances and are able to control these phenomena."
He "can not be held accountable for the central bank because there are imbalances in the bills or dues and this is not his mission, but the responsibility of the concerned government authorities Kozara trade and finance, which is important to develop an approach importing ones so that the central bank's policy to consider them," noting that "the central banks in both countries the world do not take other roles of the parties responsible for such operations. "
Keywords and pointed to "the dollar exchange rate today is 1250 dinars to the dollar [125 000 dinars for one hundred dollars and I expect that the new processes to sell the currency without 8% in taxes and fees will lead to the decline and are sure of it."
And "We sell in the daily bank auction amount of the dollar more than $ 75 million set in the budget law the fact that we have no objection to the amount of sales cash Valssayash essence is to use these goals and if they restricted in advance they are robbed of the flexibility of the bank," adding that "these sales at auction Bank vary according to supply and demand, but more than identified in the budget, "he said," There is no intention to change our exchange rate at the auction. "
And he went on the central bank governor saying that "in the case of inflation may interfere with the central bank to try to withdraw liquidity from the market," noting that "the inflation rate in Iraq today indicate a record decline currently up 1.7% and the Bank does not currently calls for intervention to change the exchange rate being a record high by international standards including in respect of inflation. "
He called Keywords "not to worry or fear indicators for the oil sector, production and we have direct contact with the Ministry of Oil, which represents an important indicator dollar that comes from the central bank is issued by Iraq's oil and say we do not have a problem in the flow of dollars to the Central Bank and there is an improvement in the production and export level The prices of oil and we hold a great deal of optimism with the availability of liquidity indicators to restore a lot of the occupied territories of Daash ".
"This is an opportunity for all of us in Iraq to stand on the shock that I got and call us at the national thinking why demand for the dollar this size, analysis and stress today with the Association of Banks meeting that there is a position of understanding and agreement on the translation steps and read the phenomena correctly and set directions for understanding and take necessary measures to stabilize prices and avoid the occurrence of such shocks in the future. "
In replying to a question by a reporter [where] on concern Employees to receive their salaries the timing or the state bankrupt Governor of the Central Bank on the Keywords that said "Iraq's oil country currently exports more than 3 million barrels and have a cash reserve of foreign in Bank currency $ 68 billion." .
He stressed that "Iraq is not a bankrupt state, but there is a problem in the provision of liquidity, but it is not up to the point of threatening the employees' salaries to secure and we still did not exhaust all sources and resources that cover the deficit and we are working very closely to fill any problem in this area," ruling out "the possibility of payment of staff salaries dollar and the central bank will not accept the internationalization of the Iraqi economy, "stressing that" the Iraqi dinar is still strong. "
He also stressed that "the central bank's past to issue paper dinar both categories of 50 thousand and 100 000 dinars after a thorough study of the subject," noting that "50 class thousand dinars in press currently in preparation for the pumped into the market by the end of this year," pointing out that "the request to postpone issuing a class 100 in anticipation of a sudden get inflation of dinars and that the current financial situation in the country requires the gradient to issue two new categories of currency ".
He revealed Keywords for "approval cell crisis on the proposal in a cell crisis would go to the central bank which is that the Ministry of Finance will issue bonds in dollars-term $ 5 billion put to the audience and be a dollar at the official rate minus a certain percentage bought by the public and pay him in dollars after a year pay at the official dollar minus a certain percentage approaching interest rate, "he said." We have been approved this proposal and instructed the Central Bank of as a financial advisor to the government of running this release immediately and we will start offering the bonds to the public they will bring us good financial source ".
--
June 20, 2015 at 8:00 AM Flag Quote & Reply
Tgirl
Administrator
Posts: 38483
He explained that "existing securities sale in the budget law and allowed to issue $ 12 billion in bonds to pay off the dues of oil companies and we proposed to the Ministry of Finance and the Prime Minister that try to issue bonds rather than taking dollars from overseas bonds and afford significant benefits them and we raised that these bonds be local and I think This step is beginning to create a bond market being so lacking and this bond is one of the goals that we're working on. "
And depriving the 15 banks and banking companies from participating auction Central Bank Keywords said that "this issue is not a new process which gets continuously to stop some irregularities and abuses."
For his part, the depositary of the bitter melon head of the Association of Banks said during the press conference, "We have a recurring weekly workshops with the central bank, and decisions will be issued in proportion to the reality of the situation in the market."
"The inflation rate in Iraq is almost non-existent compared to our neighboring countries, and can be considered a profit margin achieved for the banks, because it has the salaries and allowances of rents."
He pointed out that "the decisions made by the Central Bank, and the issue of 8% in taxes and fees filed to ease the burden on the citizen, since they make up 90% on the exchange rate, as well as the subject of the auction, which was 15 days, then 10 days, and five days, in addition to opening banks on Saturday where a citizen can review, and here we have become a six-day work, "noting that" these ingredients that have accumulated give us support and strength and support to continue. "
He explained Handal "There was a premonition about the high price, and when you open a dialogue with the central bank and banks joined forces with some of them down the exchange rate, and these factors we now find an open and frank dialogue and properly comply with the monetary policy pursued by the Central Bank of Iraq and we appreciate this policy."
"In some cases, the movement of some of the views that come from some politicians or dealers in the auction the dollar and lead to panic and fear, and we hope that politicians who issue statements from time to time convey the truth of the central bank."
He said the "panic and fear reflected negatively on the country's foreign trade and reflected its confidence with Iraq" .anthy
Keywords and said at a news conference in Baghdad attended by the correspondent of the agency all of Iraq [where], "The central bank has foreign currency is the weakness of the local currency in the market, and what happened in the past few days indicates that these attempts involve the kind of speculation and profit-taking may also involve on the other targets I do not want to enter into details because this is definitely a rise in the indicators is natural But are these Mahalaot stand the central bank's policy certainly both an emergency on the market. "
He said the "local currency derives its strength from the reserve currency, foreign and how much you can last that covers local and we assure that we can respond to the request of the dollar no matter what its size reached and there is no concern on the impact of the exchange rate," adding that "the financial reserves of the Central Bank is the number variable and today of up to $ 68 billion and the size of the money supply of the dinar 40 trillion dinars. "
And between Keywords that "the subject of the independence of the central bank is very important in maintaining the political bank fee and decisions and I can not say that there is pressure directly is still the independence of the Bank with most of those respectable but some pressures and statements that affect the operation of the bank, including the House of Representatives, which does not occur take the correct way creates a climate of fear in the banking sector, which is very sensitive in his dealings, "adding that" some interventions may be unintended directly. "
"It is certain that the rise of the dollar in this way is natural and within hours reflect a certain movement within the market but I can not directed directly accused of any party or bank and possibly the security services in economic crime is the closest to it," noting that "increase demand for the dollar is due to size and the migration of large imports of capital and even the private sector has become invested in other countries. "
He noted the central bank governor that "the exchange rate may be affected by an increase in consumer and government spending, which pumps the bulk of the budget in the market for central bank to Aausband pressure on the dollar and there is constant consultation between monetary and fiscal policy and a high degree of coordination, but an almost daily basis between the bank and the Finance Ministry in consult the way you avoid lax spending or incorrectly calculated and thus affect the exchange rate. "
"The rise and fall of the exchange rate is a global phenomenon, but the central bank is not a security point of traces that there was political agendas or other behind this volatility in prices, the important thing for us pull factors that exploit such circumstances and are able to control these phenomena."
He "can not be held accountable for the central bank because there are imbalances in the bills or dues and this is not his mission, but the responsibility of the concerned government authorities Kozara trade and finance, which is important to develop an approach importing ones so that the central bank's policy to consider them," noting that "the central banks in both countries the world do not take other roles of the parties responsible for such operations. "
Keywords and pointed to "the dollar exchange rate today is 1250 dinars to the dollar [125 000 dinars for one hundred dollars and I expect that the new processes to sell the currency without 8% in taxes and fees will lead to the decline and are sure of it."
And "We sell in the daily bank auction amount of the dollar more than $ 75 million set in the budget law the fact that we have no objection to the amount of sales cash Valssayash essence is to use these goals and if they restricted in advance they are robbed of the flexibility of the bank," adding that "these sales at auction Bank vary according to supply and demand, but more than identified in the budget, "he said," There is no intention to change our exchange rate at the auction. "
And he went on the central bank governor saying that "in the case of inflation may interfere with the central bank to try to withdraw liquidity from the market," noting that "the inflation rate in Iraq today indicate a record decline currently up 1.7% and the Bank does not currently calls for intervention to change the exchange rate being a record high by international standards including in respect of inflation. "
He called Keywords "not to worry or fear indicators for the oil sector, production and we have direct contact with the Ministry of Oil, which represents an important indicator dollar that comes from the central bank is issued by Iraq's oil and say we do not have a problem in the flow of dollars to the Central Bank and there is an improvement in the production and export level The prices of oil and we hold a great deal of optimism with the availability of liquidity indicators to restore a lot of the occupied territories of Daash ".
"This is an opportunity for all of us in Iraq to stand on the shock that I got and call us at the national thinking why demand for the dollar this size, analysis and stress today with the Association of Banks meeting that there is a position of understanding and agreement on the translation steps and read the phenomena correctly and set directions for understanding and take necessary measures to stabilize prices and avoid the occurrence of such shocks in the future. "
In replying to a question by a reporter [where] on concern Employees to receive their salaries the timing or the state bankrupt Governor of the Central Bank on the Keywords that said "Iraq's oil country currently exports more than 3 million barrels and have a cash reserve of foreign in Bank currency $ 68 billion." .
He stressed that "Iraq is not a bankrupt state, but there is a problem in the provision of liquidity, but it is not up to the point of threatening the employees' salaries to secure and we still did not exhaust all sources and resources that cover the deficit and we are working very closely to fill any problem in this area," ruling out "the possibility of payment of staff salaries dollar and the central bank will not accept the internationalization of the Iraqi economy, "stressing that" the Iraqi dinar is still strong. "
He also stressed that "the central bank's past to issue paper dinar both categories of 50 thousand and 100 000 dinars after a thorough study of the subject," noting that "50 class thousand dinars in press currently in preparation for the pumped into the market by the end of this year," pointing out that "the request to postpone issuing a class 100 in anticipation of a sudden get inflation of dinars and that the current financial situation in the country requires the gradient to issue two new categories of currency ".
He revealed Keywords for "approval cell crisis on the proposal in a cell crisis would go to the central bank which is that the Ministry of Finance will issue bonds in dollars-term $ 5 billion put to the audience and be a dollar at the official rate minus a certain percentage bought by the public and pay him in dollars after a year pay at the official dollar minus a certain percentage approaching interest rate, "he said." We have been approved this proposal and instructed the Central Bank of as a financial advisor to the government of running this release immediately and we will start offering the bonds to the public they will bring us good financial source ".
He explained that "existing securities sale in the budget law and allowed to issue $ 12 billion in bonds to pay off the dues of oil companies and we proposed to the Ministry of Finance and the Prime Minister that try to issue bonds rather than taking dollars from overseas bonds and afford significant benefits them and we raised that these bonds be local and I think This step is beginning to create a bond market being so lacking and this bond is one of the goals that we're working on. "
And depriving the 15 banks and banking companies from participating auction Central Bank Keywords said that "this issue is not a new process which gets continuously to stop some irregularities and abuses."
For his part, the depositary of the bitter melon head of the Association of Banks said during the press conference, "We have a recurring weekly workshops with the central bank, and decisions will be issued in proportion to the reality of the situation in the market."
"The inflation rate in Iraq is almost non-existent compared to our neighboring countries, and can be considered a profit margin achieved for the banks, because it has the salaries and allowances of rents."
He pointed out that "the decisions made by the Central Bank, and the issue of 8% in taxes and fees filed to ease the burden on the citizen, since they make up 90% on the exchange rate, as well as the subject of the auction, which was 15 days, then 10 days, and five days, in addition to opening banks on Saturday where a citizen can review, and here we have become a six-day work, "noting that" these ingredients that have accumulated give us support and strength and support to continue. "
He explained Handal "There was a premonition about the high price, and when you open a dialogue with the central bank and banks joined forces with some of them down the exchange rate, and these factors we now find an open and frank dialogue and properly comply with the monetary policy pursued by the Central Bank of Iraq and we appreciate this policy."
"In some cases, the movement of some of the views that come from some politicians or dealers in the auction the dollar and lead to panic and fear, and we hope that politicians who issue statements from time to time convey the truth of the central bank."
He said the "panic and fear reflected negatively on the country's foreign trade and reflected its confidence with Iraq" .anthy
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