Home
British report: money laundering and official corruption Iraq loses $ 3 billion
Baghdad / follow-up Range
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 from the sale of oil revenues into the Development Fund for Iraq.
The report pointed out that the Iraqi economy has been suffering a period of sharp fluctuations in the dinar exchange rate reflected clearly on the economic situation of the Iraqi people.
attributed the report 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 two months Only in the past year 2012.
between the Iraqi Central Bank announced in August of last year that its reserves of hard currency amounted to 67 billion U.S. dollars, while the Iraqi government announces that balances preventive in the Development Fund for Iraq amounted to $ 18 billion.
while reserves the Central Bank 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 presidency of the Central Bank of the current responsibility for the disappearance of ten tons of gold reserves, Iraq needs these reserves to enhance the value of the dinar Iraqi money market balances abroad.
International Center for Development Studies pointed out that some force in the Iraqi government is seeking to take advantage of surplus oil revenues to exploit the reserves built by Iraq during the past ten years to maximize their assets abroad.
The low reserves the central bank is dangerous for the economy Iraq, as a dependent on cash economy revenues from oil sales which means that Iraq's lack of margin for flexibility to cope with fluctuations in international oil prices and to maintain the economic balance is required.
[You must be registered and logged in to see this link.]
