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Deputy: Our movement to change the exchange rate will be subject to discussion.. and the decision is in the hands of the Central Bank
800 Policy 10/24/2022 16:57
Baghdad today - Baghdad
Deputy Mudar Al-Karawi reviewed, today, Monday, the mechanisms for returning the dollar exchange rate to its previous position,
while considering that the matter will be subject to discussion by a specialized committee, and the decision in the end belongs to the authority of the Central Bank.
Al-Karawi said in an interview with (Baghdad Today),
"The government's justification for raising the dollar exchange rate was to confront a critical financial crisis that required urgent solutions at the time,
but the situation changed with the increase in Iraq's treasury revenues, supported by oil prices, which constitute approximately 85% of the volume of public revenues over country level." He added,
"The government pledged, after raising the exchange rate, to maintain prices in the markets from speculation and to ensure the stability of the main materials,
but this did not happen and this decision constituted a drain on the pockets of millions of poor and simple people, especially since Iraq has nearly 13 million people below the poverty line." He pointed out that
"with support for the movement to reconsider the exchange rate of the dollar in Iraq, it is due to three reasons.
The first is the formation of a higher economic committee in order to objectively study the decision and give solutions that contribute to supporting the
He pointed out that
"determining the exchange rate is a decision of the powers of the executive authorities,
but its discussion by the House of Representatives is necessary in order to coordinate with the next government to develop mechanisms that contribute to alleviating the burdens caused by raising the dollar exchange rate on Iraqi markets and considering the possibility of gradually reducing it by the Central Iraqi as the competent authority.
Deputy: Our movement to change the exchange rate will be subject to discussion.. and the decision is in the hands of the Central Bank
800 Policy 10/24/2022 16:57
Baghdad today - Baghdad
Deputy Mudar Al-Karawi reviewed, today, Monday, the mechanisms for returning the dollar exchange rate to its previous position,
while considering that the matter will be subject to discussion by a specialized committee, and the decision in the end belongs to the authority of the Central Bank.
Al-Karawi said in an interview with (Baghdad Today),
"The government's justification for raising the dollar exchange rate was to confront a critical financial crisis that required urgent solutions at the time,
but the situation changed with the increase in Iraq's treasury revenues, supported by oil prices, which constitute approximately 85% of the volume of public revenues over country level." He added,
"The government pledged, after raising the exchange rate, to maintain prices in the markets from speculation and to ensure the stability of the main materials,
but this did not happen and this decision constituted a drain on the pockets of millions of poor and simple people, especially since Iraq has nearly 13 million people below the poverty line." He pointed out that
"with support for the movement to reconsider the exchange rate of the dollar in Iraq, it is due to three reasons.
The first is the formation of a higher economic committee in order to objectively study the decision and give solutions that contribute to supporting the
- stability of markets and
caring for the poor, in addition to
stating its pros and cons in front of public opinion according to a general perspective.".
He pointed out that
"determining the exchange rate is a decision of the powers of the executive authorities,
but its discussion by the House of Representatives is necessary in order to coordinate with the next government to develop mechanisms that contribute to alleviating the burdens caused by raising the dollar exchange rate on Iraqi markets and considering the possibility of gradually reducing it by the Central Iraqi as the competent authority.
