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Allawi: Returning the exchange rate in an unthought manner will lead to chaos
Monday, February 28, 2022 7:13 PM
Baghdad / National News Center
Today, Monday, Finance Minister Ali Abdel Amir Allawi resolved the controversy over the exchange rate change.
Where the Speaker of the House of Representatives, Muhammad al-Halbousi, called on Finance Minister Ali Abdul-Amir Allawi, during a session hosted by Parliament, to “work to present a new vision to address the negative effects that resulted from the exchange rate change.”
For his part, Allawi announced, "It is not possible at the present time to change the exchange rate," detailing that
"the 2021 budget was drawn up according to reform plans that contributed to developing solutions and addressing the financial situation."
He added, "The benefits of devaluing the Iraqi dinar have increased government revenues by 23%, and that the rise in global oil prices is a benefit to Iraq."
Allawi indicated that "the Iraqi external debt will be reduced by 4 billion dollars in 2021, while the rate of paying farmers' dues amounted to 65%."
He stressed, "60% of the border crossings are not controlled, including those located in the Kurdistan region," proposing "the allocation of a financial grant to be distributed through the ration card or social care."
Allawi: Returning the exchange rate in an unthought manner will lead to chaos
Monday, February 28, 2022 7:13 PM
Baghdad / National News Center
Today, Monday, Finance Minister Ali Abdel Amir Allawi resolved the controversy over the exchange rate change.
Where the Speaker of the House of Representatives, Muhammad al-Halbousi, called on Finance Minister Ali Abdul-Amir Allawi, during a session hosted by Parliament, to “work to present a new vision to address the negative effects that resulted from the exchange rate change.”
For his part, Allawi announced, "It is not possible at the present time to change the exchange rate," detailing that
"the 2021 budget was drawn up according to reform plans that contributed to developing solutions and addressing the financial situation."
He added, "The benefits of devaluing the Iraqi dinar have increased government revenues by 23%, and that the rise in global oil prices is a benefit to Iraq."
Allawi indicated that "the Iraqi external debt will be reduced by 4 billion dollars in 2021, while the rate of paying farmers' dues amounted to 65%."
He stressed, "60% of the border crossings are not controlled, including those located in the Kurdistan region," proposing "the allocation of a financial grant to be distributed through the ration card or social care."
