Saleh: Decline in Iraq’s security could have similar effects as CH VII if not remedied

Posted by on Oct 27, 2013 | Leave a Comment

Bank indicates a threat to development and security implications of the decline like to “Chapter VII”
WEDNESDAY, JULY 31, 2013 13:22

Deputy Governor of the Central Bank of Iraq the previous appearance of Mohammed Saleh, Wednesday, that the development in Iraq are at greater risk because of the decline in the security situation, noting that the security implications of the economic file does not differ from those imposed on Iraq because of the “Chapter VII”.

Mohammed said in an interview with “Twilight News”, that the danger of an imminent security assets in Iraq, and make economic decisions of the provisional short-term, not long-term investment decisions.

He added that the economic equation in Iraq overturned due to the declining security situation of the equation of building and business investment to hedge equation and the freezing of funds and rely on profit little Links periods.

He continued, “The Chapter VII” cost Iraq a lot, Fbtosifh country a war zone, drained of the Iraqi economy proportion of 45-50% of the projects built because of the threat in accordance with Chapter VII, and after the withdrawal of Iraq from this chapter, nothing has changed, The cost of insurance on projects also rose due to declining security.

And stresses the majority of local authorities in the provinces, especially where security escalation that the majority of investors played for obtaining the licenses to set up investment projects due to the drop in the security situation.

Economists refer to that became طاردا violence to invest because the environment lead to the escape of violent investors, and that any economic process does not non-national investment and foreign.

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