Home
A government source reveals a package of measures to address the difference in the exchange rate
Dollar
money and business
Economy News - Baghdad
Today, Tuesday, a government source revealed a package of measures to address the difference in the exchange rate, while noting that Prime Minister Muhammad Shiaa Al-Sudani directed the activation of a committee to hold serious discussions with the US Treasury Department regarding transfers.
The government source stated to the Iraqi News Agency (INA), that
“the government has taken a package of measures to address the difference in the exchange rate, including:
organizing the import process and
ensuring the entry of the largest number of merchants and importers to the foreign currency selling window by
facilitating account opening procedures, deposit operations, and other
procedures related to issuing... The identity of the importer, which would
facilitate the requirements of (Know Your Customer) for the category of merchants and importers,” indicating that
“there are ongoing negotiations between the government and the Central Bank with the Iranian side to regulate trade between the two countries and take the best options regarding payment of dues and amounts, and discussions are taking place at a good pace.” He added,
"Prime Minister Muhammad Shiaa Al-Sudani directed to work on a number of important projects to ensure that the poor and middle-income groups are not affected by the exchange rate difference, as the
Ministries of Commerce and Health are working to import important materials and provide them in Iraqi dinars at stable prices, an example of which is the food basket project (Al-Sandah at stable prices)." And the pharmaceutical basket, the construction basket, and the basket of reserve materials for the transportation sector, some of which work began a while ago.” He continued,
"The government is now working on an (equal deal) project to exchange trade and imports with some countries, such as China and India, and in their own currencies from Iraq's main trading partners, such as India, China, and some neighboring countries," pointing out that
"the government is currently studying establishing a free zone to import materials and then Marketing it to the private sector and ensuring its delivery to the consumer at competitive prices and in the Iraqi dinar.
The government is also currently studying a re-export project and there are important discussions in this regard.” He pointed out that
"the government issued a series of measures to develop electronic payment systems and reduce dependence on cash.
A series of other decisions will also be issued in the coming days regarding pricing and incentive policy for services provided through electronic payment." He explained,
"Prime Minister Muhammad Shiaa Al-Sudani directed the activation of a joint committee between the government, the central bank, and the private sector, under the supervision of his office, to hold serious discussions with the US Treasury regarding transfers through the foreign currency sales window, and the committee has begun its meetings from now." He pointed out that
"the government is holding ongoing discussions with the Central Bank of Iraq on a number of topics, including facilitating procedures related to Iraqi banks importing the (cash) dollar.
This process has already begun with some banks importing the dollar, and the process will expand to include other banks, and work is also underway." Proceeding to conclude agreements to supply the currencies of some countries to be provided through banks and banking companies to meet the needs of Iraqi tourists and pilgrims going to those countries without the dollar currency.”
Views 180 Added 11/14/2023 - 11:31 AM
https://economy-news.net/content.php?id=37520
Dollar
money and business
Economy News - Baghdad
Today, Tuesday, a government source revealed a package of measures to address the difference in the exchange rate, while noting that Prime Minister Muhammad Shiaa Al-Sudani directed the activation of a committee to hold serious discussions with the US Treasury Department regarding transfers.
The government source stated to the Iraqi News Agency (INA), that
“the government has taken a package of measures to address the difference in the exchange rate, including:
organizing the import process and
ensuring the entry of the largest number of merchants and importers to the foreign currency selling window by
facilitating account opening procedures, deposit operations, and other
procedures related to issuing... The identity of the importer, which would
facilitate the requirements of (Know Your Customer) for the category of merchants and importers,” indicating that
“there are ongoing negotiations between the government and the Central Bank with the Iranian side to regulate trade between the two countries and take the best options regarding payment of dues and amounts, and discussions are taking place at a good pace.” He added,
"Prime Minister Muhammad Shiaa Al-Sudani directed to work on a number of important projects to ensure that the poor and middle-income groups are not affected by the exchange rate difference, as the
Ministries of Commerce and Health are working to import important materials and provide them in Iraqi dinars at stable prices, an example of which is the food basket project (Al-Sandah at stable prices)." And the pharmaceutical basket, the construction basket, and the basket of reserve materials for the transportation sector, some of which work began a while ago.” He continued,
"The government is now working on an (equal deal) project to exchange trade and imports with some countries, such as China and India, and in their own currencies from Iraq's main trading partners, such as India, China, and some neighboring countries," pointing out that
"the government is currently studying establishing a free zone to import materials and then Marketing it to the private sector and ensuring its delivery to the consumer at competitive prices and in the Iraqi dinar.
The government is also currently studying a re-export project and there are important discussions in this regard.” He pointed out that
"the government issued a series of measures to develop electronic payment systems and reduce dependence on cash.
A series of other decisions will also be issued in the coming days regarding pricing and incentive policy for services provided through electronic payment." He explained,
"Prime Minister Muhammad Shiaa Al-Sudani directed the activation of a joint committee between the government, the central bank, and the private sector, under the supervision of his office, to hold serious discussions with the US Treasury regarding transfers through the foreign currency sales window, and the committee has begun its meetings from now." He pointed out that
"the government is holding ongoing discussions with the Central Bank of Iraq on a number of topics, including facilitating procedures related to Iraqi banks importing the (cash) dollar.
This process has already begun with some banks importing the dollar, and the process will expand to include other banks, and work is also underway." Proceeding to conclude agreements to supply the currencies of some countries to be provided through banks and banking companies to meet the needs of Iraqi tourists and pilgrims going to those countries without the dollar currency.”
Views 180 Added 11/14/2023 - 11:31 AM
https://economy-news.net/content.php?id=37520
