HAT TIP: The Currency News Hound
Basically the Members of Iraq’s Finance Committee, who many of the members are in no doubt controlled by Maliki, we’re trying to get Shabibi to give up his control of the $60+ Billion in reserves!
Luckily, for us and the RV, Shabibi said to those members: no-way-Jose! I need that reserve to bring value to the IQD!
~ Mr. IQD
09 May, 2012 07:12:24 Huda – Baghdad
Qald Vice Chairman of the Finance Committee MP Ahmed Hassan Faizullah that the committee held a meeting today Rabaa in the presence of the Governor of the Central Bank.
He touched on several topics of interest to the national economy and the Iraqi dinar, most notably preserve the value of the dinar against the dollar and how to work a project delete three zeros from the currency, indicating failure to reach any conclusion about those topics.
He Faizullah that his committee proposed to the Central Bank Governor Sinan Shabibi act reservoir monetary existing hard currency “dollar”, which is estimated at more than sixty billion dollars, in order to stabilize the exchange rate of the dinar against the dollar, but the Shabibi refused and asked not to enter any point of his work that the Central Bank is an independent body.
He ruled the Attorney Faizullah restoration of the Iraqi dinar during the current period with the absence of local products and dependence on extractive industries “oil, attributing this to the increased value of the dinar need a strong economy based on large sectors of the economy.