US Federal Reserve Controls Iraqi Foreign Currency

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U.S. Federal Reserve Controls Iraqi Foreign Currency

Baghdad - Al-Hayat   Wednesday, January 9, 2013

A source familiar with the Central Bank of Iraq's Al-Hayat, that the Iraqi government is unable to act in cash reservoir abroad because it is lodged with the U.S. central bank.

He stressed that the latter had already agreed with the United Nations and the Department of the Central Bank of Iraq to reject the transfer any amount outside the framework of the budget.

The experts predicted the end of the crisis, the Central Bank of Iraq for fear of exposing the big names in the political and financial center, which was confirmed by sources familiar with the investigation, pointing to the issuance of a judicial decision to release the deputy governor of the Bank appearance in favor and 30 employees were arrested earlier.
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The Supreme Judicial Council issued on 19 October (October) last arrest warrant against the Governor of the Central Bank and a number of officials in corruption cases, and arrested 32 staff with the governor's refusal to Shabibi decision. Read Full Article>>> http://newsdoors.blogspot.com/2013/01/us-federal-reserve-controls-iraqi.html