Mohammed Allawi: Treasury bonds loans lead the country to collapse

This is an opinion piece!




09/19/2015 16:11



This loan will come within the budget already suffering from a lack of clear and to cover any operating budget that this amount will pay Kmaachat will go in vain without the payoff.

BAGHDAD / obelisk warned the former Iraqi Minister of Communications, Mohammed Tawfiq Allawi, of the danger of Treasury bonds loan from three international banks are Deutsche Bank, Citigroup, JP Morgan, by six billion dollars at an interest rate 10.37% per annum up to the year 2028.


Allawi said in an article, to "obelisk", that the loan will come within the budget already suffering from a clear operating budget to cover any shortage that this amount will pay Kmaachat will go in vain without the payoff.

He said Allawi dangerous second in this loan is impossible to increase oil prices to previous levels, but it is forecast that it will not arrive in the best conditions to more than $ eighty per barrel because of shale oil production for the foreseeable future big possibility is the descent of oil to thirty levels dollars or even less over the next year due to an increase Iranian production during 2016.
Allawi criticized those responsible for the economic file, saying they .atakdhun decisions will make the country's economy is collapsing without taking deliberate steps to save the country from collapse ..
"The coming year will see a significant reduction in the cash reserve and we will have to reduce the dinar or rather the collapse of the dinar, and unfortunately there is no one listens to what arises from economic solutions."

Allawi noted that the theft of the Central Bank is still under way in full swing, the difference between the price offered in 1190 to the dollar and the selling price in 1223 of any Thirty-three points, meaning there are 2.8 cents per dollar and the central bank a month now to sell $ 3.8 billion more than half of this amount sold in the markets, theft and clear to the citizen any annually and this year will steal more than $ 600 million from the citizen, that this category soaked in the euphoria of what achieve profits and trying to patch up the situation by borrowing without thinking about the results and if I were their say (to go the country to hell as long as we achieve These profits do not dream of). "

He said that "a lot of people do not understand these figures do not understand the impact of these destructive policies, but they will suffer the suffering is unprecedented after a few years while sinking the country into debt and the benefits of the debt and the collapse of the dinar will come political class no matter how sincere you'll find themselves unable to save the country economically as well as problems Daash security problem. "
He appealed to Allawi's politicians "to assume their responsibility before God and before the community to stop such destructive actions must be good reference assume their responsibility to save the country and future generations what awaits them from the economic future frighteningly large and the destruction of the country and increase the doubling of the suffering of the citizens after a few years because of these false and non-thought out policies." .

http://almasalah.com/ar/news/60663/محمد-علاوي-قروض-سندات-الخزينة-تقود