Central Bank begin the restructuring of the public auction and the development of the financial dealings

26 April, 2012

The start of the Iraqi Central Bank to restructure the public auction and the development of financial dealings and improve the performance of its employees, denying at the same time cancel or convert it to a commercial bank last.
The Deputy Governor of the Central Bank of the appearance of Mohammed Saleh said that the central bank decided to restructure the work of the auction and the development of financial dealings with customers and improve the performance of employees to fit with the challenges the future to the process of selling the currency, Saleh added that the central bank did not decide to never cancel the auction or transfer of the sale of hard currency to another bank of banks that are supervised by the Central Bank, and experts say the Iraqi economy to transform the task of selling the hard currency from the central bank to state bank may not resolve the problem once and for all.

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Member of Finance Committee attribute the reasons for the high inflation index to the large number of public holidays

Thursday, 26.04.2012

Baghdad (news) .. Member of Finance Committee attributed the parliamentary deputy / National Alliance / Secretary Hadi Abbas reasons for the high inflation index for the month of March to increase public holidays, what led to the increase in prices in the domestic market.
Abbas said (to the Agency news): The increase public holidays during the month of last March led to the suspension of work and the closure of some roads, making the prices of materials and goods in the domestic markets are growing and inflation index rises until it reached to (1.7%), according to official statistics of the Ministry of Planning, He continued: in addition to the fluctuation of the exchange rate of U.S. dollar against the Iraqi dinar as a result of internal and external factors which affected the prices in the domestic market and made it unstable.
He called for Abbas to: the need to control the local markets and work to reduce the value of the dollar against the dinar and the reduction of public holidays in order to reduce inflation and reduce the threat to the Iraqi economy.
This has seen a month last March occasions several Iraqi, and holidays of many, the most important holiday holding the Arab summit in Baghdad, which lasted a full week in addition to the holiday Nowruz, which has made the most of the roads closed caused through an increase in the prices of materials and goods in local markets.
The Ministry of Planning has announced a rise in inflation during the month of last March, to the proportion (1.7%), while annual inflation for the year (2011) was increased (8.3%). / Finished / 8. N. R /

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