HAT TIP: The Currency News Hound
Published on Thursday, 13 January 1 / December 2012 19:40
BAGHDAD / obelisk: central bank governor denied agency, Thursday, said the World Bank may intervene in the Iraqi political, financial, or the imposition of any conditions on the Bank’s measures to maintain the stability of the Iraqi currency.
Said Abdul Basit Turki for “obelisk”, on the sidelines of a regular meeting with the World Bank in the Jordanian capital Amman, said that “the World Bank said that what he is doing CBI conduct proper to maintain the stability of its currency.”
Turki added that “discussions with the World Bank addressed the issue of restructuring of the Iraqi banks and rehabilitate the financial systems used in Iraq to keep pace with the evolution and the need for global investments and the entry of foreign investors to operate in Iraq.”
He pointed out that “the meeting also discussed the subject of the federal budget for Iraq and the development of financial management, and reduce inflation within the central bank of Iraq,” pointing out that “the World Bank suggested a number of proposals will be discussed and work to develop in line with the reality of the Iraqi economy as economical ريعيا dependent on oil revenues. “
Turki said that “the World Bank referred to the accumulated debts of Iraq’s institutions and foreign creditors and the mechanics of programming repaid or canceled depending on what you see the Iraqi government.”
The Iraqi government obliges the central bank to maintain the value of the Iraqi dinar and foreign exchange reserves of the dollar, after the disclosure of recent violations in the work of public auction for the sale of hard currency.
And witnessing the Iraqi Central Bank auction increasing demand to buy the dollar, after the recent reforms done to manage the central bank recently.