Economists respond “Cant unlink USD from IQD” as suggested by the Economic Center; Creates further discussion regarding IQD units

Posted: October 20, 2013 in Iraqi Dinar/Politics
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59624c79cf4b8e4779fc1993fd87b008Economists: cannot unlink dollar from Iraqi dinar

20-10-2013

Despite the White House end the Government shutdown crisis of America there is another crisis threatening the US economy is the US government debt ceiling height to record levels reached 10 trillion dollars, an amount much difficult in the absence of indicators of recovery of the US economy, threaten new economic crises threatening the dollar.

The economic information center said in a press release received PUKmedia, copy, need work policy in Iraq in cooperation with the Iraqi Government to move Iraq from the dollar that real economic risk has not experienced since the great depression in the 1920s which requires examination of alternatives to the dollar on the foreign currency basket Iraq reserves contain the most stable Asian currencies like the Chinese Yuan to the euro and pound sterling, Japanese yen and other currencies are more stable than the dollar add To promote the transformation of dollarization in the Iraqi market phenomenon to a basket of currencies through partial incorporation of these currencies in the beginning auction currency and encouraging the Iraqi market for circulation through the payment of such currencies particularly for imports coming from countries that trade these currencies.

Central, Member of the parliamentary Finance Committee Naguib to Iraqi currency current limited categories don’t harmonize with balancing Iraq and encouraging investors not so yzetron to trading in foreign currency “.

Najib said told PUKmedia, said Sunday, “If there were coins of 200 or 250 thousand for the encouraging motivation improved monetary policy.”

“The current figure is difficult without study and without the reform of the economic and financial system in Iraq and current currency unlink Iraqi dinars to the dollar.

MP Najib stressed that “the disengagement of the Iraqi dinar to the dollar needs to raise the value of the Iraqi dinar and clear plans and strategies and the use of some economists.

Said Professor of Economics at the University of Sulaymaniyah Khaled Haidar to unlink the dinar from the dollar is not possible that the Iraqi economy is one-sided, that Iraq exported oil and imports most of its needs from abroad any dollar that exposed Iraq anyway to crises.

Haider in emphasized told PUKmedia, said Sunday that Iraq could seek to reduce a dinar to the dollar through increased domestic production and reduce imports from abroad to fill the growing demand caused by increased purchasing power relative to increase in population in the country. ”

The White House has issued on the 1st of October, the Federal Government has ordered the suspension of work, after Congress failed to reach agreement on the budget for the new year.

The US Congress has approved, on 17 October, a Bill to end the partial closure of the Government departments and avoid debt default Washington, hours before the deadline, to raise the debt ceiling to 16.7 trillion dollars and not face Washington risk defaults.

Several States warned oil effect US Government shutdown on the country’s financial dealings and its income from oil, particularly dealing with us directly.

The Iraq country rentier unilaterally dependent on oil in its budget, public finance and the contribution of oil over 90% in the GDP of the country.

===Alternate translation===

20-10-2013

Despite the announcement the White House end of the crisis closure of government the U.S. but there is another crisis threatening the U.S. economy is the high ceiling of the government’s debt the U.S. to record levels reached 17 trillion dollars, a large sum difficult to deal with in the absence of indicators for the U.S. economic recovery is Mihdd crises economic New threaten the dollar zone.

Center Economic Media said in a press statement received PUKmedia, a copy of it, the need for monetary policy in Iraq and in cooperation with the Iraqi government on the transfer of Iraq from the dollar zone, which is exposed to the risk of real economic not experienced since the Great Depression in the twenties of the last century, which would require a study to find alternatives to the dollar in the reserves of Iraq’s foreign currency basket includes Asian currencies more stable, such as the Chinese yuan in addition to the euro and the pound sterling and the Japanese yen and other currencies are stabilizing higher than the dollar in addition to promoting the transformation of the phenomenon of dollarization in the Iraqi market to a basket of currencies this through drawers partial start these currencies in the currency auction and encourage the Iraqi market traded through payment in these currencies, especially for imports coming from countries that are trading those currencies.

Center, a member of the Finance Committee announced parliamentary Najiba Najib said the current Iraqi currency with limited categories does not correspond with the budget for Iraq and not be encouraging for investors so Aztron to trading foreign currency, “the dollar.”

Najib said in permit for PUKmedia, on Sunday, “that if there were coins from class 200 or 250 thousand was an encouraging motivation to improve monetary policy.”

He stressed that “the current form without studying hard and without reform the economic and financial system in Iraq and the current currency denominations disengagement of the Iraqi dinar to the dollar.”

MP Najib confirmed that the “disengagement of the Iraqi dinar to the dollar needs to raise the value of the Iraqi dinar and the plans, strategies and clear and the use of some economists.”

For his part, professor of economics at the University of Sulaymaniyah Khaled Haidar said delinking the dinar from the dollar is possible that the Iraqi economy is unilateral ie, that Iraq exported oil and imports most of its needs from abroad any dollar against Iraq in all cases to crises.

He said Haider told PUKmedia, said on Sunday that “Iraq he can seek to reduce the link dinar to the dollar by increasing domestic production and reduce imports from abroad, leading to bridge the growing demand caused by increased purchasing power relative in addition to increasing the number of population in the country.”

The White House has issued on the first of October, the current orders to federal government departments partial cease to operate, after Congress failed to reach an agreement on the budget for the new year.

The Congress approved the U.S. on October 17 current, a bill ending partial closure of the government departments and sparing Washington defaults on its debt, and hours before the deadline to raise the debt ceiling to 16.7 trillion dollars, but facing Washington risk of defaults.

Several countries have warned of the impact of oil closures U.S. government on the financial dealings of her country and its income from oil and especially that dealing with the United States directly.

Iraq has a yield unilateral country depends on oil dramatically in the financing of public budget and the contribution of oil more than 90% in the GDP of the country.

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