- Time : 2023/02/22 18:22:00
- Read: 2,743 times
{Policy: Al-Furat News} Prime Minister’s Advisor, Zia Al-Nasiri, announced on Wednesday the government’s vision of the recent measures for the dollar exchange rate.
“The economic team with Prime Minister Mohammed Shiaa al-Sudani is ceive that the measures will help stabilize the exchange rate significantly,” Nasiri told Al-Furat News.
“I trust the prime minister and his ability to find treatments despite the difficult situation and the large number of speculators,” Nasseri added.
The recent decision of the Council of Ministers on setting the price of one dollar at {1300} dinars in the federal budget for the year 2023 led to a rapid collapse in the exchange rate after exchange rates exceeded the barrier of 1,650 dinars to the dollar, which led to increased turmoil in local markets and their recession; as a result of the rise in the prices of goods and
Earlier today, the Iraqi Council of Ministers approved the decision of the Board of Directors of the Central Bank to amend the exchange rate of the dollar against the dinar, equivalent to 1300 dinars to the dollar.
For his part, the adviser to the Iraqi Prime Minister, Fadi Al-Shammari, considered the decision to adjust the exchange rate as “an achievement of a promising economy and sustainable development.”
Al-Shammari stated that “the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent to 1300 dinars to the dollar.”
Since the beginning of this year, the government and the central bank have taken a package of measures to increase the supply of the dollar in the domestic market, a decision that partially succeeded in resolving the crisis, but exchange rates have remained low.
The crisis dates back to December 2020, when the government of former Prime Minister Mustafa Al-Kazemi announced the change in the dollar exchange rate from 1,117 dinars per dollar, to 1,450 dinars, due to the decline in global oil prices.
In early 2022, as oil prices re-rising on the world market, the government rejected calls to restore the dinar price to what it was.
The first repercussions of the dollar crisis were the dismissal of the Governor of the Central Bank of Iraq Mustafa Ghaleb, scary last Monday by order of Prime Minister Mohammed Shiaa Al-Sudani, who assigned the former governor of the bank Ali Al-Alaq as an agency.
Al-Sudani commented on the changes by saying that “the departments assigned to the Central Bank and the Trade Bank of Iraq have skills and will work to reduce the rise in exchange rates.”
From: Raghad Daham
https://alforatnews.iq/news/الافصاح-عن-رؤية-الحكومة-بإجراءات-سعر-صرف-الدولار
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