Home
Specialists: continued smuggling of currency drain the wealth of Iraq
Published on Friday, 02 October / 2 November 2012 19:41 | Written by: hassan-20 | | | Views: 41
BAGHDAD / With: specialists warned of the continuing process of smuggling currency abroad, describing it as a process of continuous depletion of the resources of the country, according to economic expert, Dr. Sadik Minister Saidi.
Saidi said in an interview told the future on Friday that "the value of the local currency linked reservoir cash foreign currency and thus the continuing depletion and waste of currency is reflected in the value of the local currency as it leads to impairment and this decline affects all activities the country's economic, which relies in his dealings daily currency local and impairment leads to lower their purchasing power "
He explained that "the responsibilities of the central bank is to maintain the value of the local currency and thus the central bank when currency smuggling forced to pump more currency for the purpose of maintaining the balance between the local and foreign currency."
He added that "Iraq will depend on the dollar in monetary policy only and diversifies found cash which could be better and limit the smuggling operations."
For its part, considered the parliamentary Finance Committee that "the smuggling of Iraqi funds abroad in these circumstances experienced by the country aimed at emptying Iraq of hard currency"
Said committee member Abdul Hussein al-Yasiri "Iraq's economy is no longer a centralized economy, but is a free market economy based on the freedom of trading to make way for smuggling currency widely"
He added, "money out lawfully on the basis of import, but she goes to the speculative currency out of the country"
The Yasiri as "supposed to ask who has the billions of money and buy the currency from the bank on the sources of those funds through the activation controls the sale and purchase of foreign currencies, indicating that there is considerable overlap between money laundering and currency smuggling"
The economist said Makki Mohamed Ardakm that "most of the smuggling of currency used in trade speculation for exchange rate changes and make a profit when the exchange rate rises"
He noted that the controls in place the process of buying and selling the weak currency which facilitates the smuggling operation and continuing threat to the Iraqi economy "ended ...... Falah Al-Nasser
[You must be registered and logged in to see this link.]
Published on Friday, 02 October / 2 November 2012 19:41 | Written by: hassan-20 | | | Views: 41
BAGHDAD / With: specialists warned of the continuing process of smuggling currency abroad, describing it as a process of continuous depletion of the resources of the country, according to economic expert, Dr. Sadik Minister Saidi.
Saidi said in an interview told the future on Friday that "the value of the local currency linked reservoir cash foreign currency and thus the continuing depletion and waste of currency is reflected in the value of the local currency as it leads to impairment and this decline affects all activities the country's economic, which relies in his dealings daily currency local and impairment leads to lower their purchasing power "
He explained that "the responsibilities of the central bank is to maintain the value of the local currency and thus the central bank when currency smuggling forced to pump more currency for the purpose of maintaining the balance between the local and foreign currency."
He added that "Iraq will depend on the dollar in monetary policy only and diversifies found cash which could be better and limit the smuggling operations."
For its part, considered the parliamentary Finance Committee that "the smuggling of Iraqi funds abroad in these circumstances experienced by the country aimed at emptying Iraq of hard currency"
Said committee member Abdul Hussein al-Yasiri "Iraq's economy is no longer a centralized economy, but is a free market economy based on the freedom of trading to make way for smuggling currency widely"
He added, "money out lawfully on the basis of import, but she goes to the speculative currency out of the country"
The Yasiri as "supposed to ask who has the billions of money and buy the currency from the bank on the sources of those funds through the activation controls the sale and purchase of foreign currencies, indicating that there is considerable overlap between money laundering and currency smuggling"
The economist said Makki Mohamed Ardakm that "most of the smuggling of currency used in trade speculation for exchange rate changes and make a profit when the exchange rate rises"
He noted that the controls in place the process of buying and selling the weak currency which facilitates the smuggling operation and continuing threat to the Iraqi economy "ended ...... Falah Al-Nasser
[You must be registered and logged in to see this link.]
