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During a meeting with the blocs, the governor of the Central Bank refuses to reduce the exchange rate of the dinar
Last update February 21, 2022
The Independent/- According to the meeting, which lasted for five hours with the Governor of the Central Bank, Mustafa Ghaleb Mokhiv, in the presence of all the blocs, the most prominent topics discussed were currency smuggling, the exchange rate and the currency auction.
Mokhif was quoted as saying: “The dollar exchange rate is not in the hands of the Central Bank or the House of Representatives.
It is a matter related to all parties, especially the central bank’s dealings with the International Monetary Fund.”
And the head of the Kurdistan Justice Bloc, Representative Soran Omar, quoted in an interview with “Al-Sabah” newspaper, which was followed by the independent, that the governor indicated that “the bank raised the reserve from 48 billion to 64 billion dollars,” noting that
“raising the dollar exchange rate or reducing the value of the Iraqi dinar two years ago.
It was at the request of the current Minister of Finance and the approval of all parties, because the government was unable to pay the salaries of employees in light of the drop in the oil price at that time to $30 per barrel,” stressing that
“it is impossible to reduce the price of the dollar and go back, and that the rise in oil prices is not It is stable, and we will face many big problems if the exchange rate is returned to what it was before.”
Regarding the rise in the prices of goods and materials in the markets, the head of the Kurdistan Justice Bloc quoted the governor as saying that “the rise in local market prices is caused by the lack of government oversight,” and that
he “personally is against raising the exchange rate and devaluing the Iraqi dinar, but it is an imperative matter that cannot be reversed.” And the meeting came out
The aforementioned formed a temporary fact-finding committee regarding the Central Bank and the Ministry of Finance and Markets, and to prepare a report to be delivered to the House of Representatives.
In turn, the economic expert Maytham Laibi told Al-Sabah: “The decision to change the exchange rate of the Iraqi dinar against the dollar falls within a common formula, in which the priority comes to the Central Bank of Iraq in accordance with Law 56 of 2004 and its amendments, which guarantees its independence completely, and
the Central Bank participates from On the other hand, with the International Monetary Fund in obtaining advice and expertise in the field of monetary policy, while
the government comes in third place in the list of parties that can influence the decision to determine the exchange rate of the dinar against the dollar.
The expert explained that “the role of Parliament, according to the constitution, is related to the accountability of the Central Bank and its people to the deputies in order to justify and defend its policies, not to interfere in its decisions and policies,” stressing
“the negative impact on the exchange rate and the economy in general due to the interventions of some members of Parliament in the work of the Central Bank through Their non-specialized statements.
During a meeting with the blocs, the governor of the Central Bank refuses to reduce the exchange rate of the dinar
Last update February 21, 2022
The Independent/- According to the meeting, which lasted for five hours with the Governor of the Central Bank, Mustafa Ghaleb Mokhiv, in the presence of all the blocs, the most prominent topics discussed were currency smuggling, the exchange rate and the currency auction.
Mokhif was quoted as saying: “The dollar exchange rate is not in the hands of the Central Bank or the House of Representatives.
It is a matter related to all parties, especially the central bank’s dealings with the International Monetary Fund.”
And the head of the Kurdistan Justice Bloc, Representative Soran Omar, quoted in an interview with “Al-Sabah” newspaper, which was followed by the independent, that the governor indicated that “the bank raised the reserve from 48 billion to 64 billion dollars,” noting that
“raising the dollar exchange rate or reducing the value of the Iraqi dinar two years ago.
It was at the request of the current Minister of Finance and the approval of all parties, because the government was unable to pay the salaries of employees in light of the drop in the oil price at that time to $30 per barrel,” stressing that
“it is impossible to reduce the price of the dollar and go back, and that the rise in oil prices is not It is stable, and we will face many big problems if the exchange rate is returned to what it was before.”
Regarding the rise in the prices of goods and materials in the markets, the head of the Kurdistan Justice Bloc quoted the governor as saying that “the rise in local market prices is caused by the lack of government oversight,” and that
he “personally is against raising the exchange rate and devaluing the Iraqi dinar, but it is an imperative matter that cannot be reversed.” And the meeting came out
The aforementioned formed a temporary fact-finding committee regarding the Central Bank and the Ministry of Finance and Markets, and to prepare a report to be delivered to the House of Representatives.
In turn, the economic expert Maytham Laibi told Al-Sabah: “The decision to change the exchange rate of the Iraqi dinar against the dollar falls within a common formula, in which the priority comes to the Central Bank of Iraq in accordance with Law 56 of 2004 and its amendments, which guarantees its independence completely, and
the Central Bank participates from On the other hand, with the International Monetary Fund in obtaining advice and expertise in the field of monetary policy, while
the government comes in third place in the list of parties that can influence the decision to determine the exchange rate of the dinar against the dollar.
The expert explained that “the role of Parliament, according to the constitution, is related to the accountability of the Central Bank and its people to the deputies in order to justify and defend its policies, not to interfere in its decisions and policies,” stressing
“the negative impact on the exchange rate and the economy in general due to the interventions of some members of Parliament in the work of the Central Bank through Their non-specialized statements.
