Kurdistan Looking for Alternatives to Cope With the Lack of Iraqi Dinar
|June 21, 2014||Filled under Iraqi Dinar News|
Iraqi Dinar News –
According to observers, economists that the Kurdistan region may be forced in the coming period, to deal in U.S. dollars, or printed currency of its own, as a result of the lack of Iraqi currency in the banks of the region, resulting from the continuation of the Iraqi government not to send the salaries of the staff of the region, and the adoption of the latter on the oil money Kurdistan, which is sold in U.S. dollars.
According to Al-Bayan and the crisis has escalated since the beginning of this year, after the Iraqi government decided to cut staff salaries and financial benefits for the region and not to send any amount of history to the Kurdistan region, while appreciating the salaries of employees of the region 580 billion Iraqi dinars per month, which led to the fiscal imbalance in the region, which pays the salaries of its staff and accruals investors finance the Iraqi dinar.
Quoted network Basenyoz Kurdish, a member of the Finance Committee of the Parliament of Kurdistan Ali Hama Salih, saying that the region in front of three options to exit crisis scarcity of the Iraqi dinar in the banks of Kurdish, either that we are in coordination with the Central Bank of Iraq, or dealing in U.S. dollars, or print its own currency region, pointing out that the Government of the region have shown their ability to print its own currency Kurdistan.
Excluded ruled Undersecretary of the Ministry of Finance of Iraq Fadel prophet, who resigned recently, and there is a shortage in the Iraqi dinar in the Kurdistan Region, pointing out that the Iraqi dinar is still available in the region in sufficient quantity.
Added that the increase in demand for the Iraqi dinar, will lead to a rise in its exchange rate against the U.S. dollar, and the Government of the Territory will be able then to solve the problem of lack of dinar by opening the door to buy it through a sub-central bank in each of the Sulaimaniyah and Arbil.
Turn announced branch manager Erbil Central Bank for the absence of a shortage in the amount of the Iraqi dinar in the Kurdistan region, explaining that dinar Iraq is still available in abundance outside the bank, in addition to a good amount banks exist Kurdistan.
Related Iraqi Dinar Articles-