Font Size:21/10/2012 (19:27 pm)
See expert financial and economic prestigious that way they were addressed the issue central bank would not solve the problems in the life of monetary and fiscal, but it weakens confidence in the system of cash in the country and the national currency and the general national economy and weaken the image of the Iraqi state’s financial forums and economic international.
says expert who wished in anonymity in an interview for the “long” yesterday that “the Central Bank Foundation cash stands at the forefront of its objectives exchange rate stability and sustain economic growth and fight inflation, and to achieve this objective, the bank uses the tools of direct and indirect, including the opening of windows to sell the dollar” .
draws expert that “because of unilateral Iraqi economy based entirely on oil and crashes most the joints productive life, become effective selling of the U.S. dollar really accustomed to the national economy in a manner not allow think Bglgaha”. He points out that window work in two ways, “first cash sales to the public through banks and the second conversion of dollars demanded by the public from banks abroad” and “cash sales meet the requirements of the public for treatment and other needs, which accounted for no more than 10% of the total sales, either remittances constitute largest percentage of sales of the bank. “expert notes that” problematic is the vision and goal and the means and policies, while the see where among critics of the policy of the bank present he abandon its required reserves of foreign currency to sell the dollar, and that a significant proportion of sales did not fall against which to country goods or services that should be that intervention for every dollar out of the bank goods or services at the same value, see the central bank as follows:
- It is not the body that can follow the dollar from the moment of his release from the bank to the moment of becoming a commodity or service for reasons of functions numerous that must be performed by actors other official, including the Ministry of Commerce granted import licenses and decide the quality of materials that must enter into the country and restrictions that can be imposed on those goods or other, and the Ministry of Planning, which must decide priorities of the country, plans and foundations examined goods .. And so, The customs authority that examine the goods and determine أقيامها for duty and shall sustain the national information system to ensure subordination of goods imported into the customs duty in the first phase and to income tax in the second phase (phase trading and distribution), as well as the security forces responsible for combating money laundering, smuggling and counterfeiting of currency , and the banking system, which should ensure that the funds requested from which had been received in return goods and services. “
continues expert financial and economic added: “Thus it is clear that the demands of those who oppose window sell the dollar be correct and truthful if all state institutions above the their duties efficiently, then سينشغل central bank job base to support the price of the dinar and ensure stability. ” He adds, “The lack of a national information system on the state level, makes the potential to build a database with the central bank through which confirm the path of the dollar, which sells in return path goods and services coming into the country.”
expert stresses that the central bank “is responsible for providing currency dinar and integrity and strength so that everyone has dinars (pregnant Iraqi dinar) he can buy what he wants from the goods and services unconditionally, including foreign currency. Unfortunately, believes the Integrity Commission or other that interventions in the exchange market of by the central bank are a matter of wasting public money … this talk is dangerous, if not the central bank intervenes in the foreign exchange market it interfere? “.
indicates the financial and economic expert that “he heard us he Integrity Commission referred the staff of the Central Bank, in accordance with Article (340) ( waste of public money), and this gives a message to anyone who works in the organization cash (the central bank) that work which is organized and determined central bank law, but it is kind of waste of public money. “
The expert states that “the independence of the central bank is one of the most important pillars of the authority cash doer, because the financial authority in the hands of the government through the Minister of Finance, the monetary authority became in her hand also becomes more difficult in relation to the achievement of monetary policy .. It is well known that monetary policy short-term in nature (sometimes change during the day) and politics Finance is a long-term and sometimes medium-term, but it can not be short-term. “
and warns expert said that “It is known also that the central bank of any country is a front country direction States and other nations, and determine how this institution and make it vulnerable to criticism and defamation makes the country’s image weaker It is obvious that the national currency large number of jobs, mainly function for the purposes of exchange and function of other store of value .. and when it becomes the bank are defamed in this way, you may lose the banknote her second job. and expert calls for financial and economic that “understands the community and judicial authorities this dilemma, we have forced the central bank, which is trying to maintain the exchange rate of the Iraqi dinar to sell it in the manner that meets the demand, because the exchange rate is very sensitive price trend forecasts and rumors as well as the actual procedures. Since the real economic sectors in the country code is almost, was left of the door to address the needs of the country of imported goods, but sell the dollar window. Because the national information system is very weak, the goods that cover our needs and fill markets, in fact, because of the multiple sources of entering the country, did not find regulatory bodies and documents booster of parity between the dollar amount sold by the central bank and the value of goods and services within, we import everything, including the water. These imports saturation different needs is that the function of documentation and oversight function on the border crossings were not still allow the entry of millions of tons and cubic meters and الألتار of goods without Anhtisgel or interference in the information system humble, which is owned by customs authorities, planning or tax, and this real dilemma I want the central bank to addressed, then I want him to pay for non-completion of these regimes. “
What is required and what the way to solve the current problem? answer expert financial and economic saying “What is required to hold a hearing dialogue to address this dilemma and the disintegration of the basic elements and constituents durability or overcome, with defined roles that can be that carried out by each of the stakeholders in the country, and is the body that can recognize as incapable of this task. “and increases the expert to say:” What is required to attend to this dialogue the central bank to provide the mechanism by which marched before for the recent crisis (not beyond), the Ministry of Planning and device quality control, customs, taxes and critics dollar selling through those windows as well as those who support or understand forced the central bank to that window. “concludes expert financial and economic speech for the” long “saying” the issue is not in the first leg the central bank governor or return or Set irreplaceable important thing to understand those different tools required from each institution in the state and whether the central bank was able to promote tools other institutions?. whether he had options other than the adoption of the manner in which he conducted the case in this vein? “.