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Economist: Iraq's association with the International Monetary Fund prevents resorting to devaluation of the dollar
Today 08:46
Information / Baghdad...
Economist Saleh al-hamashi explained that
changing the value of the dollar against the dinar is not possible during the current period,
especially with Iraq's association with the International Monetary Fund, as the devaluation will lose confidence with this fund.
"Most politicians are calling and declaring for a reduction in the exchange rate of the dollar against the dinar, while this is not possible at the moment due to the existence of international obligations," Al-hamashi told Al-Malouma.
"There is an agreement with the International Monetary Fund on the current dollar exchange rate, and
it is possible that the rate will be reduced,
but in this case, Iraq will lose the support of this fund as well as international organizations, at a time when the country needs money," he added. He pointed out that
"Iraq's credit rating has dropped to second place B due to the presence of amounts owed by Iraq, as
the country's association with the IMF gives it the ability to obtain funds through international borrowing, and as a result,
violating the IMF's decisions to devalue the dollar means a loss of trust between Iraq and this fund.
"The government has the ability to find great treatments on goods and commodities to ensure that they reach reasonable prices to the consumer instead of going towards a reduction and losing confidence between it and the IMF," he stressed. Ended 25N
Economist: Iraq's association with the International Monetary Fund prevents resorting to devaluation of the dollar
Today 08:46
Information / Baghdad...
Economist Saleh al-hamashi explained that
changing the value of the dollar against the dinar is not possible during the current period,
especially with Iraq's association with the International Monetary Fund, as the devaluation will lose confidence with this fund.
"Most politicians are calling and declaring for a reduction in the exchange rate of the dollar against the dinar, while this is not possible at the moment due to the existence of international obligations," Al-hamashi told Al-Malouma.
"There is an agreement with the International Monetary Fund on the current dollar exchange rate, and
it is possible that the rate will be reduced,
but in this case, Iraq will lose the support of this fund as well as international organizations, at a time when the country needs money," he added. He pointed out that
"Iraq's credit rating has dropped to second place B due to the presence of amounts owed by Iraq, as
the country's association with the IMF gives it the ability to obtain funds through international borrowing, and as a result,
violating the IMF's decisions to devalue the dollar means a loss of trust between Iraq and this fund.
"The government has the ability to find great treatments on goods and commodities to ensure that they reach reasonable prices to the consumer instead of going towards a reduction and losing confidence between it and the IMF," he stressed. Ended 25N
