Consultant Abadi: Cancel the foreign exchange control department of the Central Bank of the need for the new system


 

Dollar

Information / Baghdad ..

Economic Adviser to the Prime Minister counting the appearance of Mohammed Saleh, Sunday, cancellation of foreign exchange control department of the Central Bank of Iraq as a “need” a new political system based on a market economy, pointing out that the creation of the Department of laundering money for the alternative would be for them.

Saleh said in a statement / information /, that “a number of academics believe that the abolition of foreign exchange control department at the central bank are the reason behind the smuggling of hard currency and this is rightly believe”.

He added that “totalitarian regimes based foreign exchange control departments in the monetary policy so as to restrict the movement of funds, either in the democratic systems that rely policy of market economy, it gives freedom of movement of money and after that the change that took place after 2003 from a socialist system to a market economy has to be for Iraq to free account the current account balance of payments, especially after he signed the resolution 1483, which comes to dealing with international organizations. “

Saleh pointed out that “Iraq passed the law (56) for the year 2004 relates to full liberalization of the balance of payments and thus became the foreign exchange control department is illegal and therefore issued a law to establish anti-corruption department twirl 93 of 2004 and amended by Law 39 for the year 2015 and this circuit has become a substitute for foreign exchange control department “.

It is said that economists believe that the most dangerous steps approved by the US civil administrator in Iraq Paul Bremer towards monetary policy in Iraq cancel foreign exchange control department. Finished / 25 m

http://almaalomah.info/2017/02/27/economic/134438

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