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Mazhar Saleh: Financing foreign trade in the “recovery” stage
Iraq 2023/04/02
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The financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, said yesterday, Saturday, that the financing of foreign trade is in the stage of recovery, while stressing that government measures prevented the smuggling of dollars abroad.
Saleh said, in a press statement, that "foreign trade financing operations in foreign exchange for the private commercial sector are currently in a stage of recovery and escalating adaptation in the face of the new international compliance requirements that have been implemented since last November. The window sales are after the three packages launched by the Central Bank and regulatory procedures." The government that simplified foreign trade operations for the private sector, all of them are undergoing an accelerated state of adaptation towards accelerating external transfer and financing trade at the official exchange rate.
He added, "The central bank's window sales began to touch their previous normal rates of sale, reaching nearly $200 million per working day in the foreign currency auction, which is a very stable level of sales to meet the market's demand for foreign exchange, and is supported at the same time by high reserves of foreign currency that It is in the possession of the monetary authority, which enables it to effectively intervene in the stability of the market in an easy and effective manner.
And the financial and economic advisor to the Prime Minister stated that "in light of the foregoing, the price differences between the official exchange rate of the dinar and the price parallel to it did not widen, but there are strong signs of contraction and a clear gradual decline towards the convergence of the two prices, especially the decline of the dollar in the parallel price on a daily and tangible basis." Saleh stated that "the legal institution in particular took its active and distinguished role in protecting and sounding the national economy from attacking its constants and variables through illegal external leakages of the country's financial resources, specifically foreign currency," noting that "its active role is equivalent to the power of imposing institutional discipline in managing and directing the country's financial resources in Preserving its flows in accordance with the laws, regulations and controls that govern all financial transactions and protecting the national economy from corruption vehicles and the forces of assault on public money and the country's economic system.Attrition and assault on the constants and variables of the economic system is one indivisible case," pointing out that "the power of law enforcement and its distinguished role has become clear in providing service, foremost of which is the stability of the legal effectiveness of the national economy." He explained that "preserving the country's financial wealth, specifically preventing illegal behavior In foreign currency and dealing with wastage or deliberately diverting it outside the national economy is one issue that cannot be divided in all cases.” Including cooperation with the international financial and legal community in combating money laundering activities and all transient financial crimes.The power of law enforcement and its distinguished role has become clear in providing service, foremost of which is the stability of the legal effectiveness of the national economy.” All conditions.” ".The power of law enforcement and its distinguished role has become clear in providing service, foremost of which is the stability of the legal effectiveness of the national economy.” All conditions.” ".Preserving the country's financial wealth, specifically preventing illegal disposal of foreign currency and addressing wastage operations or deliberately diverting them outside the national economy, is a single issue that cannot be divided in all cases.” At the current stage in the development of the degree of control and cooperation internally and externally, including cooperation with the international financial and legal community in combating money laundering activities and all transient financial crimes.Preserving the country's financial wealth, specifically preventing illegal disposal of foreign currency and addressing wastage operations or deliberately diverting them outside the national economy, is a single issue that cannot be divided in all cases.” At the current stage in the development of the degree of control and cooperation internally and externally, including cooperation with the international financial and legal community in combating money laundering activities and all transient financial crimes.
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