Al-Sabah - 30/01/2012
Dollar between growing demand and the objections of experts
Warnings of the repercussions of smuggling on the economy
The Central Bank of Iraq's growing demand for the dollar as a result of internal and external factors as experts warned the economy Tdaiat smuggled to neighboring countries to meet the international sanctions on the Iraqi economy.
He said in a statement obtained by the morning, a copy of the factors surrounding the growth of this phenomenon, however, is that internal factors play an important role and the key associated with a greater public spending and its impacts on the behavior of individual demand in the market for foreign currency. At the same time, the situation and the complexities of regional in some countries surrounding Iraq and exposed him problems in its international economic relations has dropped the other Bdilalha in the formation of streams of additional indirect demand for foreign currency through the overlapping regional trade and ways of financing different. The statement concluded that despite the above, the phenomena discussed above whatever Achtdadadtha and their effects, the situation of foreign reserves of the Central Bank of Iraq is one of durability location and the estimated high in the face of any eventuality caused by the growing phenomenon of demand for foreign currency, according to the means of monetary policy available to control the levels of liquidity and cash flows to achieve economic stability desired. In the meantime, criticized the Adviser to the Prime Minister for Economic Affairs Abdul Hussein Al-Anbuge, the policy of the Iraqi Central Bank on the decision to lift the Iraqi dinar against the U.S. dollar, noting that he had not coordinated with the economic system in addressing the situation. said Abdul Hussein Al-Anbuge in an interview "Alsumaria News", "the Iraqi Central Bank to raise the dinar against the U.S. dollar at the present time is true that this increase is real," noting that "the image of the Iraqi economy is reflected in the exchange rate of the dinar." and added Anbuge "Raising the price of the dinar Iraqi like this now will help to promote the phenomenon of economic rent because it will make imports cheaper and thus lead to a deepening of this phenomenon, "adding that" this phenomenon will feel the citizen that he should remain imports which are not the productive base in the Iraqi economy, which seeks to get to the Economic Development all other sectors. "to that warned a number of experts in the field of economy and development, the escalation of the sale of foreign currency at border crossing points with Iran, and the requirement of Iranian traders pay Akiem goods supplied to Iraq in hard currency. and emerged in the recent phenomenon of selling hard currency to the men business on the Iranian border and especially in the province of Maysan. The economist said Majid picture, told the Kurdish news agency (Rn) on Saturday that "the phenomenon of replacement of the hard currency of Iranian currency is not legal, but is the process of smuggling of foreign currency supposed to fight by the security authorities." "The Iranian currency is not international, and not allowed their coming out of the country .
Noting that "the phenomenon of replacement of hard currency to local Iranian influenced the value of the dollar in Iraq, and raised the demand for hard currency at the Central Bank." Have risen in recent weeks, central bank sales of the currency of the league to reach 160 million dollars a day to more than 200 million dollars a day. In turn, said Executive Director of the Institute of Commercial Ali al-comprehensive (Rn) that "the sale of hard currency on the Iranian traders hurt the domestic market in Iraq and raise the value of the dollar against the Iraqi dinar, "alluding to" the continued smuggling of currency, without the central bank to re-arrange his papers for the sale of foreign exchange and budget with the dollar. " He continued by saying that "the Iranian merchants are working to support their economy, especially that their government is exposed to an international economic blockade, and they suffer from a lack of access to them with the dollar coin the siege imposed on their banks international." For his part, said economic expert, the appearance of Mohammed Saleh (Rn) that "this phenomenon is natural for countries such as Iran under its currency to the economic blockade and take deteriorate, making it tend to support Aqsadha," adding that "this phenomenon, Iraq was working on during the economic blockade emerged as trading Iraqi dinar with the Jordanian Dinar. " He explained that "the process of smuggling currency harm the interests of Iraq, on the grounds that the latter depends on the import of foreign goods, or on the dollar," noting that "this phenomenon generates a partnership of capacities of local economic between Iraq and Iran, and Atold value-added of the economy, but generates profits for people."
[You must be registered and logged in to see this link.]
Dollar between growing demand and the objections of experts
Warnings of the repercussions of smuggling on the economy
The Central Bank of Iraq's growing demand for the dollar as a result of internal and external factors as experts warned the economy Tdaiat smuggled to neighboring countries to meet the international sanctions on the Iraqi economy.
He said in a statement obtained by the morning, a copy of the factors surrounding the growth of this phenomenon, however, is that internal factors play an important role and the key associated with a greater public spending and its impacts on the behavior of individual demand in the market for foreign currency. At the same time, the situation and the complexities of regional in some countries surrounding Iraq and exposed him problems in its international economic relations has dropped the other Bdilalha in the formation of streams of additional indirect demand for foreign currency through the overlapping regional trade and ways of financing different. The statement concluded that despite the above, the phenomena discussed above whatever Achtdadadtha and their effects, the situation of foreign reserves of the Central Bank of Iraq is one of durability location and the estimated high in the face of any eventuality caused by the growing phenomenon of demand for foreign currency, according to the means of monetary policy available to control the levels of liquidity and cash flows to achieve economic stability desired. In the meantime, criticized the Adviser to the Prime Minister for Economic Affairs Abdul Hussein Al-Anbuge, the policy of the Iraqi Central Bank on the decision to lift the Iraqi dinar against the U.S. dollar, noting that he had not coordinated with the economic system in addressing the situation. said Abdul Hussein Al-Anbuge in an interview "Alsumaria News", "the Iraqi Central Bank to raise the dinar against the U.S. dollar at the present time is true that this increase is real," noting that "the image of the Iraqi economy is reflected in the exchange rate of the dinar." and added Anbuge "Raising the price of the dinar Iraqi like this now will help to promote the phenomenon of economic rent because it will make imports cheaper and thus lead to a deepening of this phenomenon, "adding that" this phenomenon will feel the citizen that he should remain imports which are not the productive base in the Iraqi economy, which seeks to get to the Economic Development all other sectors. "to that warned a number of experts in the field of economy and development, the escalation of the sale of foreign currency at border crossing points with Iran, and the requirement of Iranian traders pay Akiem goods supplied to Iraq in hard currency. and emerged in the recent phenomenon of selling hard currency to the men business on the Iranian border and especially in the province of Maysan. The economist said Majid picture, told the Kurdish news agency (Rn) on Saturday that "the phenomenon of replacement of the hard currency of Iranian currency is not legal, but is the process of smuggling of foreign currency supposed to fight by the security authorities." "The Iranian currency is not international, and not allowed their coming out of the country .
Noting that "the phenomenon of replacement of hard currency to local Iranian influenced the value of the dollar in Iraq, and raised the demand for hard currency at the Central Bank." Have risen in recent weeks, central bank sales of the currency of the league to reach 160 million dollars a day to more than 200 million dollars a day. In turn, said Executive Director of the Institute of Commercial Ali al-comprehensive (Rn) that "the sale of hard currency on the Iranian traders hurt the domestic market in Iraq and raise the value of the dollar against the Iraqi dinar, "alluding to" the continued smuggling of currency, without the central bank to re-arrange his papers for the sale of foreign exchange and budget with the dollar. " He continued by saying that "the Iranian merchants are working to support their economy, especially that their government is exposed to an international economic blockade, and they suffer from a lack of access to them with the dollar coin the siege imposed on their banks international." For his part, said economic expert, the appearance of Mohammed Saleh (Rn) that "this phenomenon is natural for countries such as Iran under its currency to the economic blockade and take deteriorate, making it tend to support Aqsadha," adding that "this phenomenon, Iraq was working on during the economic blockade emerged as trading Iraqi dinar with the Jordanian Dinar. " He explained that "the process of smuggling currency harm the interests of Iraq, on the grounds that the latter depends on the import of foreign goods, or on the dollar," noting that "this phenomenon generates a partnership of capacities of local economic between Iraq and Iran, and Atold value-added of the economy, but generates profits for people."
[You must be registered and logged in to see this link.]