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Baghdad/WAP/economic analyst ressan Al-Moussawi, the Iraqi monetary policy lags behind the global monetary policy to their reliance on old laws.
Al-Moussawi said Baghdad international news agency//, "monetary policy by Iraq is not suitable to be included in the State plan to rebuild economic and financial infrastructure in Iraq, because there are monetary institutions responsible for monetary policy to the same laws that were conducted during the past period."
He added that "so far did not live up to the ambitious monetary policy, since this requires rethinking our cash and draft new laws to raise political cash to tackle distortions in the monetary policy of the State."
He noted that "the Government's monetary policy through monetary institutions are lagging global monetary policy and this itself needs a lot of legislation and Government decisions which will limit the time to bring this policy to ambition."
He explained that "monetary policy in Iraq have transacted many false standards in the country, and we need a long time for new resolutions on global financial standards contribute to the advancement of monetary policy in the region."
And invited the Ministry of finance and the Central Bank to restructure the country's monetary policy, the Central Bank's policy in dealing with private banks and the size of the reserve, adding, "all these things are ephemeral from the eyes of the State and is one of the main causes of the deterioration of the monetary policy in Iraq".
He expressed his conviction that the House could not aiktrh things minutes specializing in monetary policy but Government Bills waiting for approval. "
Turning to the Central Bank, he said, that "State intervention in currency has had a clear impact on monetary policy in Iraq, but this comes only through political stability which will have a clear impact on economic stability and this is applicable in all countries of the world."-end 2 [You must be registered and logged in to see this link.]
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