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An economist diagnoses 3 challenges to the decision to restore the exchange rate
Today 14:28
Information / Diyala...
Local economist Bassem Adnan, on Wednesday, identified three challenges facing the decision to restore the exchange rate in Iraq.
"The laws have drawn clear powers for the file of financial management in Iraq,
which is the prerogative of the central bank, which is considered an independent entity and cannot be interfered with or impose decisions, including returning the exchange rate to its previous status," Adnan said in an interview with Al-Malouma. He added that
"3 challenges face any decision to return the dollar exchange rate to its previous position,
the most prominent of which is the loss of financial liquidity estimated at 22 trillion dinars, which is a large amount,
especially in front of the stage of frequent fluctuations in the oil price Exchange, which will make any next step in this direction difficult or even impossible.
"The kadhimi government made serious mistakes that made raising the exchange rate a tool to grind millions of poor people because it did not protect the markets and did not put in place mechanisms to prevent monopoly and speculation in basic materials to push prices up by 20-50%," he pointed out.
Dozens of members of the House of Representatives support the decision to return the dollar exchange rate to its previous position due to the repercussions of rising prices for basic materials in the markets. Finished/ 25 p
An economist diagnoses 3 challenges to the decision to restore the exchange rate
Today 14:28
Information / Diyala...
Local economist Bassem Adnan, on Wednesday, identified three challenges facing the decision to restore the exchange rate in Iraq.
"The laws have drawn clear powers for the file of financial management in Iraq,
which is the prerogative of the central bank, which is considered an independent entity and cannot be interfered with or impose decisions, including returning the exchange rate to its previous status," Adnan said in an interview with Al-Malouma. He added that
"3 challenges face any decision to return the dollar exchange rate to its previous position,
the most prominent of which is the loss of financial liquidity estimated at 22 trillion dinars, which is a large amount,
especially in front of the stage of frequent fluctuations in the oil price Exchange, which will make any next step in this direction difficult or even impossible.
"The kadhimi government made serious mistakes that made raising the exchange rate a tool to grind millions of poor people because it did not protect the markets and did not put in place mechanisms to prevent monopoly and speculation in basic materials to push prices up by 20-50%," he pointed out.
Dozens of members of the House of Representatives support the decision to return the dollar exchange rate to its previous position due to the repercussions of rising prices for basic materials in the markets. Finished/ 25 p
