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A statement to the governor of the Central Bank of Iraq
7/7/15
The Federal Supreme Court judge's decision to accept the appeal submitted by the bank
Central in the materials, which included restrictions and orders of the bank came in accordance with the Constitution and the law Central Bank, and the court's decision is a great importance because of its impact on the promotion of And support the independence of the central bank and its dimensions to influence policies and decisions, this Independence is not a matter of form but is a prerequisite to enable the Central Bank of The achievement of his duties, particularly in the monetary policy by the diversity of nature on their tools And flexible beliefs, that the general budget law governing fiscal policy in spending Annual revenues, something they have to be specific to the items contained in it by virtue of The nature of the resource and expenditure management, either monetary policy are automatically vary from politics Finance, as the nature of the movement, flexibility and deal with the variables in The economic situation and market conditions and did not get in the states that follow the market system To have a specific budget and directed and constrained by the policy of the central bank law, or even In other central bank because it loses its role and took away his tools used by to create Balance and access to achieve the goals that move the movement of the market and the situation Economic and cases of inflation and recession, etc., and these movements occur Continuous and sometimes daily basis, and the law of the budget law applies for the year, making it the restrictions Real limits and tied for monetary policy and this reverse their role and nature.
The sales of foreign currency (dollar) is not an option of choice, and it is not practical Commercial or cover for commercial activities, it is in the Iraqi situation and as in the states Which controls the export monopoly of foreign currency by the nature of their resources - Aat Oil - is to replace the existing Iraqi dinar to the dollar in trading process, from In order to provide the Ministry of Finance dinar against the dollar, which is received by all oil sales And who Athtajh, but you need to the Iraqi dinar to finance the general budget, and Dollar sales ceiling determine the outcome means determining the amount of the taxpayer dinar budget General, in the case of the introduction of precisely - as described in the general budget - means the law A shortage and lack of a significant amount of the required budget to cover the expenses of the dinar, If the central bank sold $ 75 million a day - as contained in the budget law -, It means that the Central Bank will sell annually, equivalent to almost 22 trillion dinar, While operating expenses) Dinars) about 70 trillion dinars, this fact It is clear to many who call invitations determine the dollar sales ceiling, As well as a lack of understanding the role of the Central Bank and its mission to stabilize prices Exchange rates, public and which require high and continuous flexibility in quantities Sold by the bank, because the presence of a significant difference in the exchange rate between the official price And parallel market price is paid by the citizen and the economy, investment and hurt huge profits In the pockets of greedy and malicious, and can not restrain that God but to control quantities including It leaves no room for such dangerous phenomena .....
Central Bank of Iraq
06/07/2015
[You must be registered and logged in to see this link.]
7/7/15
The Federal Supreme Court judge's decision to accept the appeal submitted by the bank
Central in the materials, which included restrictions and orders of the bank came in accordance with the Constitution and the law Central Bank, and the court's decision is a great importance because of its impact on the promotion of And support the independence of the central bank and its dimensions to influence policies and decisions, this Independence is not a matter of form but is a prerequisite to enable the Central Bank of The achievement of his duties, particularly in the monetary policy by the diversity of nature on their tools And flexible beliefs, that the general budget law governing fiscal policy in spending Annual revenues, something they have to be specific to the items contained in it by virtue of The nature of the resource and expenditure management, either monetary policy are automatically vary from politics Finance, as the nature of the movement, flexibility and deal with the variables in The economic situation and market conditions and did not get in the states that follow the market system To have a specific budget and directed and constrained by the policy of the central bank law, or even In other central bank because it loses its role and took away his tools used by to create Balance and access to achieve the goals that move the movement of the market and the situation Economic and cases of inflation and recession, etc., and these movements occur Continuous and sometimes daily basis, and the law of the budget law applies for the year, making it the restrictions Real limits and tied for monetary policy and this reverse their role and nature.
The sales of foreign currency (dollar) is not an option of choice, and it is not practical Commercial or cover for commercial activities, it is in the Iraqi situation and as in the states Which controls the export monopoly of foreign currency by the nature of their resources - Aat Oil - is to replace the existing Iraqi dinar to the dollar in trading process, from In order to provide the Ministry of Finance dinar against the dollar, which is received by all oil sales And who Athtajh, but you need to the Iraqi dinar to finance the general budget, and Dollar sales ceiling determine the outcome means determining the amount of the taxpayer dinar budget General, in the case of the introduction of precisely - as described in the general budget - means the law A shortage and lack of a significant amount of the required budget to cover the expenses of the dinar, If the central bank sold $ 75 million a day - as contained in the budget law -, It means that the Central Bank will sell annually, equivalent to almost 22 trillion dinar, While operating expenses) Dinars) about 70 trillion dinars, this fact It is clear to many who call invitations determine the dollar sales ceiling, As well as a lack of understanding the role of the Central Bank and its mission to stabilize prices Exchange rates, public and which require high and continuous flexibility in quantities Sold by the bank, because the presence of a significant difference in the exchange rate between the official price And parallel market price is paid by the citizen and the economy, investment and hurt huge profits In the pockets of greedy and malicious, and can not restrain that God but to control quantities including It leaves no room for such dangerous phenomena .....
Central Bank of Iraq
06/07/2015
[You must be registered and logged in to see this link.]
