Iraq Finance Committee demands CBI print small classes of new currency; CBI to print new, small categories in near future

Posted by on Oct 28, 2013 | Leave a Comment

Financial representative demanding the Central Bank printed new currency with small groups to create a balance in the market

Baghdad/file News: the parliamentary Finance Committee, demanded on Tuesday, the Central Bank printed new currency with small groups to create a balance of the quantity in the Iraqi market.

Committee member, said Haitham Al-jubouri said in an interview with the news agency “that” the Commission recorded a shortfall of some categories of Iraqi currency particularly small groups owing to rapid circulation and damage between citizens “.

He said “the Bank travels in the near future to printing new currencies of small classes and good quality for the purpose of creating a balance in the local market with quantities traded and damaged dinars”, stating that “the survival of scarce in a number of categories will be reflected negatively on the economic and financial realities in the country that Iraq specified quantities of paper money in circulation in the hands of the Iraqi citizen.”

The IMF announced (23 March 2013) balances in the Development Fund for Iraq in 2012 rose to 18 billion dollars, the Central Bank’s reserves of hard currency to 70 billion dollars.

He noted that the rise came from the unexpected oil revenues “and called on the Iraqi Government to end the dominance of State-owned banks on the banking sector, he stressed the need for Iraq to strengthen fiscal institutions to ensure efficiency and transparency in the use of oil revenues.

===alternate translation===

Finance parliamentary calls for the central bank to print a new currency with small groups to create a balance in the market

BAGHDAD / News: demanded the parliamentary Finance Committee on Tuesday, the central bank to print a new currency with small groups to create a balance amount of categories in the Iraqi market.

Committee member said Haitham al-Jubouri in an exclusive interview with the agency “News” that “the Commission recorded the existence of shortages of certain categories of the Iraqi currency, particularly small groups because of the speed of circulation and damage among the citizens.”

He Jubouri “on the central bank to head through the next few days to print currency with new categories of small, good quality for the purpose of creating a balance in the domestic market in quantities of dinars in circulation and damaged,” noting that “the survival of health in a number of categories will reflect negatively on the economic reality and financial transactions in a specific country, the fact that Iraq quantities of paper money in circulation in the hands of the Iraqi citizen. “

The International Monetary Fund (IMF) had announced (23 March 2013) that the preventive funds in the Development Fund for Iraq has risen in the year 2012 to $ 18 billion, and cash reserves of the Central Bank of hard currency to $ 70 billion.

He pointed out that this increase came from the “oil revenues unexpected” and urged the Iraqi government to end the control of banks owned by the state of the banking sector, it stressed the need for Iraq to strengthen public financial institutions to ensure efficiency and transparency in the use of oil revenues.

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