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FRIDAY, FEBRUARY 3, 2017
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5:56 AM ADMIN
Baghdad/ Iraq TradeLink: Iraqi economists do not exclude a partial refresh int the Iraqi dinar, in
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comparison to 2016, if the oil prices continued to rise.They expected that the Iraqi government will take the lead in supporting productive agricultural, industrial and service sectors.
The expectations coincided with the calls for reform to rectify the financial position of the Iraqi dinar and its value, though they believe that the current rates of the Iraqi dinar are suitable in the current financial situations.
Among the calls was uttered by expert Isam al-Mahawili who demanded that the Iraqi government should make this year as "the year to enhance the value of the dinar, thus enhancing trust in the Iraqi currency".
"All Iraqi foreign transactions should be done by the US dollar alone", he confirmed.
He called to stop dealing with the US dollar internally to support the local currency,stressing that the Central Bank of Iraq should strengthen its supervision on the local banks and internal trade.
The price of the dollar fluctuated, which reached to about 4000 dinars per one dollar in 1990s, then it started to decline after 2003 to reach 1200 dinars for one dollars in the last ten years, but the rate was increased with the endorsement of 2015 budget and the limitation of the sales of the Central Bank of Iraq of foreign currency.
Other expert, Aqeel al-Saadi, regarded the governmental initiative will be increased by granting the industrial and agricultural loans, as well as other projects to support the private sector and the transformation to market economy.
A thidr group expect that the increase in oil prices will have its effects on the circulation of the Iraqi dinar.
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