The economic status of Government need to unlink the Iraqi dinar to the dollar

19-10-2013-14: 57
| Source: News Source
Editor: Ammar ANI
Alsumaria news/Baghdad

Student information centre, Saturday, the Government need to unlink the Iraqi dinar to the dollar, indicating that current data do not indicate serious programmes for the parallel development of alternatives to oil.

He said President Centre Dergham Muhammad Ali in a statement issued today, and received "alsumaria news", a copy of that "despite the end of the US Government shutdown crisis, there was another crisis threatening the US economy is the US government debt ceiling height to record levels reached a 17 trillion dollar", stating that "the u.s. economy is threatened by a new economic crisis threaten the dollar."

Mohamed called on the Iraqi Government to "study alternatives to the dollar on the foreign currency basket Iraq reserves contain the most stable Asian currencies such as the Chinese Yuan and Japanese Yen added to the EUR and GBP and other currencies with higher stability of the dollar," he said, adding that "the dollar is real economic risk has not experienced since the great depression in the 1920s.

Mohammed said that "the auction currency by the Central Bank of Iraq will be the first to introduce this currency deal and traded through the market, in addition to asking Iraq to unlink oil exports in dollar terms by meetings of OPEC oil price protection from being influenced by the fact that the United States dollar rates the largest importer of crude oil in the world and that any economic downturn ascertains will reduce drastically the import of crude oil."

Mohammad Ali stressed the need "to move in this direction, given that current data do not indicate serious programmes for parallel development alternatives for bringing Iraq's budget to protect the economy from price fluctuations in the world oil market."

The White House issued the first shrine first, ordered the Federal Government to suspend partial, 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.