Parliamentary committee identifies options for financial distress

by **wciappetta** Wed 13 May 2020, 1:31 pm

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Post n°1

Parliamentary committee identifies options for financial distress

by wciappetta Wed 13 May 2020, 1:31 pm

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[ltr]Parliamentary committee identifies options for financial distress[/ltr]

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[rtl]تأریخ التحریر: : 2020/5/12 13:31[/rtl]

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[rtl]704 مرة مقروئة [/rtl]
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[ltr]Baghdad-In
The parliamentary finance committee on Tuesday outlined several options for addressing the financial constraints caused by the fall in oil prices caused by the Corona crisis.[/ltr]

[ltr]"There are measures that must be taken to address the financial hardship other than internal borrowing or compromising the reserves of the central bank," said committee member Mp Mohammed Sahib al-Darraji in a press statement, pointing out that "among these options is to change the exchange rate and stop imports in addition to stopping the currency auction and other economic measures."
"If oil prices continue to fall, there must be special budgets, including balancing a crisis based on a lower price than oil to keep salaries and health matters and other important things," he said, adding that "this challenge must be exploited and turned into an opportunity by opening the door to investment and allowing the private sector to operate."
He called on the government to speed up the budget and reduce the deficit by reducing expenditures or by changing the exchange rate."
The Parliamentary Finance Committee had earlier stressed the importance of harnessing all efforts to maximize non-oil resources while presenting a number of proposals to the tax and treasury bodies that would increase revenues in order to reduce the budget deficit and improve The Iraqi economic reality.[/ltr]
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by **chouchou** Thu 14 May 2020, 3:22 am

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Post n°2

Re: Parliamentary committee identifies options for financial distress

by chouchou Thu 14 May 2020, 3:22 am

Do it, just stop the auction!

by **Proven** Thu 14 May 2020, 6:55 am

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Post n°3

Re: Parliamentary committee identifies options for financial distress

by Proven Thu 14 May 2020, 6:55 am

Print currency? ....Not going to happen.

Economy

[rtl]Thursday 14 May 2020 | 12:49 PM[/rtl]

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Parliamentary finance comments on the ability of Iraq to print a monetary process

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Baghdad / .. The Finance Committee in the Iraqi parliament, today, Thursday, commented on the possibility of Iraq printing a monetary process in order to confront the economic crisis and secure the salaries of Iraqi state employees.

Committee member Hanin Qaddo said to "Eye of Iraq News" that "Iraq cannot print a monetary process, in order to face the economic crisis, because Iraq is committed within the international monetary policy, and its taking such a step means the destruction of the Iraqi dinar."

And Qaddo that "there are a lot of solutions and proposals, with the Parliamentary Finance Committee, as well as the Ministry of Finance, to cross Iraq its economic crisis, without going to the issue of currency printing, this will cause economic and financial disasters."

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by weslin3 Thu 14 May 2020, 7:49 am

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Post n°4

Re: Parliamentary committee identifies options for financial distress

by weslin3 Thu 14 May 2020, 7:49 am

Hope you are correct Proven... But if they did you should be able to exchange the old or the one that we are holding for a certain time period.

by lonelyintexas Thu 14 May 2020, 8:11 am

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Post n°5

Re: Parliamentary committee identifies options for financial distress

by lonelyintexas Thu 14 May 2020, 8:11 am

Changing the exchange rate and stopping the auctions.
LIT yes

by **notazbad2000** Thu 14 May 2020, 10:02 am

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Post n°6

Re: Parliamentary committee identifies options for financial distress

by notazbad2000 Thu 14 May 2020, 10:02 am

Wow! I've been away too long! This seems promising...

TAZ

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