Report: Sudanese retracts the decision to change the dollar exchange rate.. Populist promises
1,766 economy 2022/11/03 10:13
Baghdad Today - follow-up
What are the reasons behind the Sudanese Mohammed Shia's retreat from changing the dollar exchange rate against the dinar, despite his criticism of the decision and his pledge to reduce it, before taking office.
A report for the "free" website followed by "Baghdad Today" highlights.
The text of the report is below:
The Iraqi Prime Minister, Mohammed Shiaa al-Sudani, said in statements last Tuesday that the decision
"to change the Iraqi dinar exchange rate against the dollar is the prerogative of the central bank and
we are committed to implementing what the central sees,"
which some considered a retreat from previous promises and positions of the president to reduce the exchange rate.
The new prime minister noted that the decision to "raise the dollar exchange rate was not accompanied by measures to protect the fragile strata," according to local media.
The Central Bank of Iraq had raised in 2020 the exchange rate against the dollar to 1460 dinars after it was in the range of 1182 dinars against the dollar, in a move aimed at compensating for the decline in oil revenues at the time.
In previous statements before taking office, al-Sudani expressed his rejection of the central bank's decision, which he approved in agreement with the caretaker government, headed by Mustafa al-Kazemi at the time, calling for the need to reconsider the decision to raise the "dollar exchange rate to prevent its negative effects".