January 23, 2011
Expert warns of economic prejudice to the independence of Central Bank
Baghdad / Orr News
Adviser warned the Iraqi Central Bank of jeopardizing the independence of the bank, stressing that he has concerns about the decision to the Federal Court judge last link with a number of independent bodies referred to in the Constitution under the chairmanship of the government directly, inviting them to issue a clarification of its decision on the association and its independence.
And the appearance of Mohammed Saleh said in a press statement today that "the decision of the Federal Court recently on the link to a number of independent bodies and which he addressed the central bank and its association with the Prime Ministry and the House of Representatives is not ambiguous and not sufficient to affirm the autonomy of the bank."
Saleh added that "it is better that sitting judges of the Federal Court with specialists at the Central Bank to discuss the new resolution of the Court, and affirm the autonomy of the Bank in formulating monetary policy for the country".
And explained that "the decision of the Federal Court, was vague in determining whether the law of the Central Bank of the biggest of the Code of the Council of Ministers on the one hand the monetary authority."
He stressed that "the Bank independent in its monetary policy," noting that "the World Bank and International Monetary Fund and World Bank to give guarantees and protection money for the CBI, because it works to create economic stability in the country."
He warned that "undermining the independence of the Central Bank will lead to opening the door to foreign courts book Iraq's funds, in the case of suits brought against Iraq."
He continued by saying that "Article 103 (paragraph 2) indicates that the central bank answerable to the Iraqi Council of Representatives", warning that "legal argument why he singled out the central bank to do so without the rest of the independent bodies."
And Saleh stressed that "with respect to the decision of the Federal Constitutional Court, but he needs to detail a demonstration, because it is not sufficient to explain all of the Central Bank."
He argued that "Iraq is the founder of the International Monetary Fund and a member of the important and we must preserve the independence of the Central Bank of Iraq in support of Iraq's economy and protect the funds."
Expert warns of economic prejudice to the independence of Central Bank
Baghdad / Orr News
Adviser warned the Iraqi Central Bank of jeopardizing the independence of the bank, stressing that he has concerns about the decision to the Federal Court judge last link with a number of independent bodies referred to in the Constitution under the chairmanship of the government directly, inviting them to issue a clarification of its decision on the association and its independence.
And the appearance of Mohammed Saleh said in a press statement today that "the decision of the Federal Court recently on the link to a number of independent bodies and which he addressed the central bank and its association with the Prime Ministry and the House of Representatives is not ambiguous and not sufficient to affirm the autonomy of the bank."
Saleh added that "it is better that sitting judges of the Federal Court with specialists at the Central Bank to discuss the new resolution of the Court, and affirm the autonomy of the Bank in formulating monetary policy for the country".
And explained that "the decision of the Federal Court, was vague in determining whether the law of the Central Bank of the biggest of the Code of the Council of Ministers on the one hand the monetary authority."
He stressed that "the Bank independent in its monetary policy," noting that "the World Bank and International Monetary Fund and World Bank to give guarantees and protection money for the CBI, because it works to create economic stability in the country."
He warned that "undermining the independence of the Central Bank will lead to opening the door to foreign courts book Iraq's funds, in the case of suits brought against Iraq."
He continued by saying that "Article 103 (paragraph 2) indicates that the central bank answerable to the Iraqi Council of Representatives", warning that "legal argument why he singled out the central bank to do so without the rest of the independent bodies."
And Saleh stressed that "with respect to the decision of the Federal Constitutional Court, but he needs to detail a demonstration, because it is not sufficient to explain all of the Central Bank."
He argued that "Iraq is the founder of the International Monetary Fund and a member of the important and we must preserve the independence of the Central Bank of Iraq in support of Iraq's economy and protect the funds."
