BAGHDAD: A banking expert said today that the crisis in the Iraqi exchange prices is not shouldered by the Central Bank of Iraq (CBI) alone, but all governmental and parliamentary organs responsible for the economic dossier, calling to establish a crisis cell to implement a strategy for methodological economic plan to reform the economic system.
Expert Sameer al-Nusairi told Aswat al-Iraq that the ministries of planning, governmental and private banks are among the responsible organs for this deterioration.
CBI attributed the increasing demand for the dollars on the situations occurring in Syria and Iran, as well as the new conditions to sell foreign currency in CBI dollar auctions.
He suggested forming a special committee to study the realities of Iraqi economy, the applications of the financial and monetary policies and the hindrances facing the economic structure in order to reach drastic solution liable for implementation.
Nusairi suggested reforming the banking system, reviewing CBI law and companies' registration law.
He called for the independence of the CBI according to its present law and stops all campaigns against it, because they will affect negatively on the economic system and create new crises.
Commenting on the deterioration in Iraqi currency, he attributed the situation to external reasons, including smuggling the dollar to regional countries, and internal ones connected with lack of financial organs to deal with the economic situation and crises.
© Aswat Aliraq 2012
