Sadr says parties should not interfere in Iraqi dinar devaluation decision
Shia cleric and political leader Muqtada Sadr (File)
4 Hours ago [3/25/2021]
SULAIMANI — Wading into the dispute over the devaluation of the Iraqi dinar, Shia cleric and political leader Muqtada al-Sadr tweeted on Thursday (March 25) that the peg to the US dollar is set by economic experts and it is not for politicians to interfere.
Some parties within the Shia bloc have urged the government to reverse the decision to devalue the Iraqi dinar that was included in the draft 2021 Federal Budget Law.
Lawmakers are expected to hold a vote on the law on Saturday.
Sadr, whose Sairoon Coalition has the most seats in the Council of Representatives, argued that the devaluation decision has both advantages and disadvantages.
The move is designed to protect Iraq’s foreign currency reserves and allow the government to spend more dinars,
but has made it more expensive for people to buy imported goods and staples, such as cooking gas.
He said that the government should find ways to alleviate the negative effects of devaluation for the poor and punish those who seek to unfairly profit from the situation through price gouging.
On Wednesday, Sadr said that the government should do more to prevent armed groups from illegally holding weapons.
The following day militia fighters made a show of force in Baghdad, among other things to urge that the decision to devalue the Iraqi dinar be reversed.
Sadr said in his tweet on Thursday that the militia should be punished.
The cleric’s own militia fighters routinely engage in similar activities, most recently on February 9.
(NRT Digital Media)