Iraq Cabinet Names Interim CBI Governor

Iraq’s cabinet has named an interim replacement as governor of the country’s central bank.

Prime Minister Nouri al-Maliki’s spokesman Ali Mussawi said, “the cabinet decided to authorise Abdelbassit Turki, the head of the Board of Supreme Audit, to run the central bank indefinitely”.

The former head of the Central Bank of Iraq (CBI), Sinan al-Shabibi, was suspended from his post by the country’s anti-corruption watchdog, the Commission on Integrity, as part of an inquiry into alleged currency manipulation.

(Source: Naharnet)

3 Responses to Iraq Cabinet Names Interim CBI Governor

  1. Stew October 18, 2012 at 4:53 am #

    This as bizarre as it can get, only in Iraq can crap this ridiculous happen.
    So they are removing Shabibi because he manipulated the exchange rate and somehow allowed Iran and Syria to take advantage of the auctions and get dollars. This while Maliki, who orchestrated this takeover, has been trying for years to get his hands on the FX reserves and is thought by many as nothing more than an Iranian sock puppet.
    This action is almost assuredly going to cause a loss of confidence in the dinar and will drive the value lower.

  2. emmett October 18, 2012 at 6:38 am #

    Its about to get really interesting….

  3. Daddy WarBux October 19, 2012 at 5:06 pm #

    Let’s face it.. None of us know what is actually going on… We know what we read and what we read is pure propaganda just like here at home. Govt cooks it, Media serves it and we eat it…. Rinse and repeat… We wait it out just like ANY other investment and take what we hear with a grain of salt (or in this case, Sand). Happy Friday..