8/5/2009 1:59:55 PM
Alshabibi: who is the weaker the financial property of the people and the government does not belong to the government.
Dr. Shabibi Governor Central Bank of Iraq that Iraq's debts amounted to nearly 140 billion dollars in debt, including the Gulf states.
The Alshabibi a "long and arduous negotiations with the International Monetary Fund and the Paris Club reached a fire, or the cancellation of nearly 80% of which are not only for the remaining debt of the Arab Gulf states."
This came during a press statement on the sidelines of his visit to the province of Najaf to visit the leaders of reference bone (long blooming Zlhm) also visited the office of Mr. Uloum met with Mr. Ibrahim Bahr al-Ulum.
In response to a question on the request of the Iraqi government and the Ministry of Finance to use the Iraqi stockpiling cash to meet the budget shortfall, said Dr. Alshabibi We rejected this proposal because the weaker property of the people who is not owned by the government. "
Iraq's central bank governor stressed that "Iraq will witness a development in the banking sector, we have new laws on the way to the Banking Act, including persons other than the laws that will support the development of this sector."
He added: "We have high ambitions and serious to keep the Iraqi dinar exchange rate and reducing inflation rates, saying" we had many programs, especially with the International Monetary Fund and the Paris Club, where we have been able to resolve a large part of Iraq's debt, which amounted to 140 billion dollars in debt, including the Gulf states, but we entered the negotiations arduous and long, during which we were able to reach the cancellation of nearly 80% of the debt and that debt does not include the Gulf states. "
He stressed that "today we have further negotiations may be long but it's serious with the Gulf countries and the countries of the world and the core of these negotiations is positive, but difficult or long journey."
He continued that "These negotiations led to a reduction in pay from the budgets of Iraq, if the payments remain the same for the debt Iraq still pay nearly $ 5 billion a year, but declined to pay one billion dollars only."
For his part, Dr. Ibrahim al-Uloum to the Center of the communication media that: "Indeed, the Iraqi banking is still underdeveloped in spite of the existence of serious steps by the Ministry of Finance and the Central Bank of Iraq in the development of this area by increasing the number of banks, civil, or to give leave to other foreign banks, however, emphasize that the movement of bank that we need to trade are still in dire need of investment and there are practical steps should the government and central bank take to improve this important reality of the country. "