Economist: Steps needed to move toward a market economy

Posted: August 20, 2013 in Iraqi Dinar/Politics
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08/20/2013 12:00 AM

called for an economist to the need to determine the implications of economic reform and its priorities, including identifying priority on the transition from a totalitarian to a market economy, pointing to the need to provide a sound foundation and necessary to achieve a smooth transition lowest possible cost as well as complete the necessary legislation and put it into practice.

said Dr. . Emad Salem »Sabah» can not accomplish economic development unless there are radical changes
alluding to the need for accurate identification of the economic challenges in Iraq, and the design of public policies and agreement on inter principles and perspectives relevant to determine the form of the state and agree on the nature and on its foundation and then characterize the economic system and identify the role of the private sector within this system and this in turn requires a clear vision of the decision-makers.

said Salem that the process of public policy-making in Iraq faces a major challenge is reflected in the non-application of the provisions of the Constitution of 2005 related to economic affairs, stressing the face of this challenge to proceed without delay to study materials Constitution first and agree on a clear explanation and a specific or modify some of then do formulate mechanisms and policies and institutional frameworks to transform these terms and constitutional articles to a united and supportive factors for the transition to a market economy and not vice versa.


Alternate translation:

Financial: Central Bank on monetary policy open

| On 2013-08-20 | Writer Anthony David | Hits 22 |

المالية النيابية : على البنك المركزي الاعتماد على سياسة نقدية مفتوحة
Baghdad/Hamad Daham

The parliamentary Finance Committee stressed that “the primary cause of rising dollar against the Iraqi dinar lies in the political set by the Central Bank since the monetary policy pursued by the Central Bank with businesses and banks that deal with the Bank”.

The Committee Member said Faleh Sari for daily “Alalam” that “the Central Bank told the House Finance Committee will follow the new theme will make a significant contribution in raising the value of Iraqi dinars before next June will be a mechanism to raise the value of the Iraqi dinar against the US dollar.”

He said in effect “on the Central Bank to reduce the size of the companies that deal with money raised in the auction, which will lead to the reduction of the value of the dollar and reliance on monetary policy open without complicated procedures and controls and opening wider the hopes of State banks. The banknote market has seen obvious variation in the exchange rate of the US dollar against the Iraqi dinar.


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