Iraqi Central Bank Governor considered the relationship stopping selling through a currencies window in the Bank would lead to the collapse of the Iraqi dinar financial situation in Iraq generally, stressing that the Central Bank is obliged to do the job, if you refrain from fulfilling this role for Iraq’s financial situation collapsed.
He said the relationship in dialogue interview Economy “News Agency on the sidelines of the annual Conference of the Arabic Bank Union held recently in Beirut, cancelling dollar sale window, price change to 3 and 4 thousand dinars, and maybe more.
The governor said it will force in case of cancellation the currency window printing trillions of dinar annually to cover local demand for the dinar, which eventually will lead to Iraqi dinar devalue due to inflation, known as cash-over-nodded.
The prospects for Iraqi dinar to float, like other countries in the region, this relationship does not arise in the present, we are working on is not currency float, and the big difference between the two.
He denied the relationship having its auction at the Central Bank, but foreign currency sale window confirming that the intermediary between the Finance Ministry and Central bank among the public.
Turning to Lebanon and Jordan experience, in maintaining the stability of their currencies, adding that the situation in Iraq is different.
He noted that the solution in Iraq lies in dollar demand reduction through structural correction of the Iraqi economy, not through refraining from selling the dollar.
The Governor stressed the Central Bank sought to resettle staff salaries in private banks, assuring a guide to localize all Iraqi civil servants in 2017 at banks.
Central Bank Governor welcomed deputies, stressing the importance of meeting with Parliament, judging from the fact that monetary policy cannot be specialized issue addressed from afar, or during the skirmishes and inaccurate analysis.
This will harness dialogue with conservative in the census the following Iraqi banks magazine issued by the Iraqi private banks Association.