Four local and international risks surrounding the" crisis " of reducing the dollar in Iraq
2,219 economy 2022/11/08 20: 42 hs
Saleh al-Hashimi, an expert on economic and financial affairs,
warned on Tuesday of the risks of changing the exchange rate of the US dollar, in light of political and popular demands to reduce it.
Al-Hashimi told Baghdad today that
"there are great risks surrounding the country in the event that the government reduces the dollar exchange rate against the Iraqi dinar," stressing that
"this step will make the country unable to borrow to fill the expected financial deficit in the federal budget.
"The devaluation of the dollar will push Iraq to impose more austerity measures and borrow in any problem faced by the country's fiscal policy in the near or distant future," he added.
"The danger also lies in creating big problems with the International Monetary Fund,
so this file must be handled with extreme caution to avoid falling into those risks, away from political slogans," he explained.