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Mohammed Allawi: those responsible for the economic file make decisions will make the country's economy collapses
09.22.2015
Baghdad
Accused the former Minister of Communications Mohammed Tawfiq Allawi, Tuesday, those responsible for the economic file to make decisions leading to the collapse of the country's economy likely to witness next year a significant reduction in the cash reserve for Iraq with the impossibility of the return of oil prices to their previous levels.
Allawi said in a statement received / scales News / copy of "our citizens all need to be aware of large-risk loan Treasury bonds of three international banks (Deutsche Bank, Citigroup and JP Morgan) by six billion dollars at an interest rate 10.37% per annum up to the year 2028, explaining The loan will come within the budget already suffering from a lack of clear to cover the operating budget where that amount will pay Kmaachat be wasted without the payoff. "
Allawi stressed "the impossibility of increase in oil prices to their previous levels, where it is almost impossible to reach the price of oil to more than eighty dollars per barrel because of shale oil production in the foreseeable future," likely "going down the price of oil to $ thirty levels or even lower over the next year due to the entry of Iranian production to world markets.
Allawi and pointed out that "next year will see a significant reduction in the cash reserve and we will have to reduce the dinar or rather collapse Dinarmarba lamented the friezes officials raises of economic solutions by specialists.
"The thefts central bank are still ongoing, said that the difference between the price offered in 1190 to the dollar and the selling price in 1223 is 33 points, or that there are 2.8 cents per dollar, indicating that the central bank sells a monthly $ 3.8 billion and said that more than half of this the amount sold in the markets. "
He said Allawi said that "in this year steal more than $ 600 million from the citizen, saying that officials category soaked in the euphoria of what achieve profits and trying to patch up the situation by borrowing without thinking about the results and expressed his regret that" most people do not understand these figures do not understand the impact of these policies destructive, "warning that" citizens will suffer the suffering is unprecedented after a few years when the country drowning in debt and the benefits of the debt and the collapse of the dinar. "
Allawi and concluded by saying, "We must bear political Almtsdon today their responsibility before God and before the community to stop such destructive actions, must be a good reference assume their responsibility to save the country and future generations than waiting for the economic future frighteningly large and the destruction of the country and to increase and multiply the suffering of the citizens after a few years because of these false and ill-conceived policies ".anthy 29 / d 25
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09.22.2015
Baghdad
Accused the former Minister of Communications Mohammed Tawfiq Allawi, Tuesday, those responsible for the economic file to make decisions leading to the collapse of the country's economy likely to witness next year a significant reduction in the cash reserve for Iraq with the impossibility of the return of oil prices to their previous levels.
Allawi said in a statement received / scales News / copy of "our citizens all need to be aware of large-risk loan Treasury bonds of three international banks (Deutsche Bank, Citigroup and JP Morgan) by six billion dollars at an interest rate 10.37% per annum up to the year 2028, explaining The loan will come within the budget already suffering from a lack of clear to cover the operating budget where that amount will pay Kmaachat be wasted without the payoff. "
Allawi stressed "the impossibility of increase in oil prices to their previous levels, where it is almost impossible to reach the price of oil to more than eighty dollars per barrel because of shale oil production in the foreseeable future," likely "going down the price of oil to $ thirty levels or even lower over the next year due to the entry of Iranian production to world markets.
Allawi and pointed out that "next year will see a significant reduction in the cash reserve and we will have to reduce the dinar or rather collapse Dinarmarba lamented the friezes officials raises of economic solutions by specialists.
"The thefts central bank are still ongoing, said that the difference between the price offered in 1190 to the dollar and the selling price in 1223 is 33 points, or that there are 2.8 cents per dollar, indicating that the central bank sells a monthly $ 3.8 billion and said that more than half of this the amount sold in the markets. "
He said Allawi said that "in this year steal more than $ 600 million from the citizen, saying that officials category soaked in the euphoria of what achieve profits and trying to patch up the situation by borrowing without thinking about the results and expressed his regret that" most people do not understand these figures do not understand the impact of these policies destructive, "warning that" citizens will suffer the suffering is unprecedented after a few years when the country drowning in debt and the benefits of the debt and the collapse of the dinar. "
Allawi and concluded by saying, "We must bear political Almtsdon today their responsibility before God and before the community to stop such destructive actions, must be a good reference assume their responsibility to save the country and future generations than waiting for the economic future frighteningly large and the destruction of the country and to increase and multiply the suffering of the citizens after a few years because of these false and ill-conceived policies ".anthy 29 / d 25
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