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Reports on CBI financing Iraqi government denied
6/22/15
Baghdad/ Iraq TradeLink: The parliamentary financial commission denied reports that the Iraqi government took refuge to the Central Bank of Iraq (CBI) to cover the deficit in the budget, stressing that the monetary reserves reached to 69 billion dollars in addition to about 10 trillion Iraqi dinars, to reach, in total, to about 80 billion dollars.
The commission expressed "astonishment" for CBI selling more than the figure stipulated in the budget law, pointing that the daily need does not exceed 45 million dollars.
It referred to the "mafias inside the CBI" which helped in the deterioration and the fluctuations in Iraqi and dinar currencies.
The budget law banned the CBI of selling more than 75 million dollars in its currency auction that led to the increase in the price of the dollar to the Iraqi dinar.
The price of the dollar to the Iraqi dinar was increased from 1200 dinars to 1400 dinars during the past two weeks, before it began to decrease after the increase in selling foreign currency by the CBI.
Earlier, the CBI prevented 14 private banks to participate in the currency auction for not abiding by the transfer taxes, which was cancelled last week by the Central Bank.
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6/22/15
Baghdad/ Iraq TradeLink: The parliamentary financial commission denied reports that the Iraqi government took refuge to the Central Bank of Iraq (CBI) to cover the deficit in the budget, stressing that the monetary reserves reached to 69 billion dollars in addition to about 10 trillion Iraqi dinars, to reach, in total, to about 80 billion dollars.
The commission expressed "astonishment" for CBI selling more than the figure stipulated in the budget law, pointing that the daily need does not exceed 45 million dollars.
It referred to the "mafias inside the CBI" which helped in the deterioration and the fluctuations in Iraqi and dinar currencies.
The budget law banned the CBI of selling more than 75 million dollars in its currency auction that led to the increase in the price of the dollar to the Iraqi dinar.
The price of the dollar to the Iraqi dinar was increased from 1200 dinars to 1400 dinars during the past two weeks, before it began to decrease after the increase in selling foreign currency by the CBI.
Earlier, the CBI prevented 14 private banks to participate in the currency auction for not abiding by the transfer taxes, which was cancelled last week by the Central Bank.
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