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Sadoun: Central Bank of afraid of the control of the government side, it
09/04/2012 19:12:53
BAGHDAD (Iba) .. Said former deputy Alaa Saadoun, the nature of the relationship between the central government and the central bank is the relationship of coordination and exchange of views and information for the purpose of access to the best formula to promote the reality of economic and financial state. said Saadoun said in a statement published online Alalmitrona the Iraqi Islamic Party seems that lack of trust between the political blocs and the government reversed turn on the central bank, there are now doubts and fears of control of the central bank from the government side. She went on to fear the central bank is due to fears that the government controls the foreign exchange reserve, which is regarded as the true guardian of the Iraqi dinar of that is exposed to fluctuations in the price is hurting the economy Iraq. Her: You must be said that the Central Bank was able during the past nine years that maintains a fixed price of the Iraqi dinar, but he was able to improve the exchange rate and this explains why the fear of government interference in his work or recourse to the cash reserves of the Bank for the implementation of government projects, note Article 26 of the Central Bank Law, which entitled the Prohibition of lending to the government to prevent the central bank from lending to the government or grant funds. (end)
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