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British report: money laundering and corruption of officials robbing Iraq of its wealth and Akhosrana $ 3 billion
26-06-2013 | (Voice of Iraq) - Add a comment -
Twilight News / A report issued by the International Center for Development Studies and status of the British capital London to Iraq, which reached its budget to nearly $ 119 billion for this year does not have them, but what converts the International Monetary Fund revenue from the sale of oil in the Development Fund for Iraq.
The report, seen by "Twilight News", that the Iraqi economy has been suffering a period of sharp fluctuations in the exchange rate of the dinar is clearly reflected on the economic situation of the Iraqi citizen.
The report attributed this to the money laundering operations and financial and administrative corruption in the joints of the Iraqi state, which led to the loss of Iraq nearly three billion dollars in just two months in the past year 2012.
And that the Iraqi Central Bank announced in August of last year that its hard currency reserves amounted to U.S. $ 67 billion while the Iraqi government announces that the preventive balances in the Development Fund for Iraq amounted to $ 18 billion.
The Central Bank's reserves of gold has fallen by 20%, in less than a year of nearly 39 tonnes in 2011 to 31 tons in 2012, while some accuse the central bank's current presidency is responsible for the disappearance of ten tons of gold reserves, Iraq needs to These reserves to enhance the value of the Iraqi dinar balances in money markets abroad.
Global Center for Development Studies pointed out that some force in the Iraqi government is seeking to take advantage of the surplus oil revenues to exploit the reserves built by Iraq during the past ten years to maximize their assets abroad.
The central bank reduced reserve a serious matter for the Iraqi economy, being economical a depends on the cash revenues from oil sales which means that Iraq's lack of margin of flexibility to cope with fluctuations in international oil prices and maintain the economic balance is required.
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26-06-2013 | (Voice of Iraq) - Add a comment -
Twilight News / A report issued by the International Center for Development Studies and status of the British capital London to Iraq, which reached its budget to nearly $ 119 billion for this year does not have them, but what converts the International Monetary Fund revenue from the sale of oil in the Development Fund for Iraq.
The report, seen by "Twilight News", that the Iraqi economy has been suffering a period of sharp fluctuations in the exchange rate of the dinar is clearly reflected on the economic situation of the Iraqi citizen.
The report attributed this to the money laundering operations and financial and administrative corruption in the joints of the Iraqi state, which led to the loss of Iraq nearly three billion dollars in just two months in the past year 2012.
And that the Iraqi Central Bank announced in August of last year that its hard currency reserves amounted to U.S. $ 67 billion while the Iraqi government announces that the preventive balances in the Development Fund for Iraq amounted to $ 18 billion.
The Central Bank's reserves of gold has fallen by 20%, in less than a year of nearly 39 tonnes in 2011 to 31 tons in 2012, while some accuse the central bank's current presidency is responsible for the disappearance of ten tons of gold reserves, Iraq needs to These reserves to enhance the value of the Iraqi dinar balances in money markets abroad.
Global Center for Development Studies pointed out that some force in the Iraqi government is seeking to take advantage of the surplus oil revenues to exploit the reserves built by Iraq during the past ten years to maximize their assets abroad.
The central bank reduced reserve a serious matter for the Iraqi economy, being economical a depends on the cash revenues from oil sales which means that Iraq's lack of margin of flexibility to cope with fluctuations in international oil prices and maintain the economic balance is required.
[You must be registered and logged in to see this link.]
