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[size=40]report: the government is considering reducing the value of the dinar against foreign currencies[You must be registered and logged in to see this link.] On 17/5/2020 - 11:58 AM 40[/size]
A source close to the office of the Iraqi Prime Minister revealed that the government is considering reducing the value of the dinar against foreign currencies, as part of measures to confront the financial crisis caused by the decline in oil prices and the implications of the spread of the new Corona virus. According to the newspaper, “The New Arab”.
The source said, according to the newspaper, that "the options available to Prime Minister Mustafa Al-Kazemi are mostly difficult, but there are serious dialogues with advisers and economic experts, and during the past few days, several options have been reviewed to address the financial crisis, including external borrowing or the devaluation of the dinar."
He added: "There are also other options, including offering state factories and public properties for investment or sale, and printing the currency, but these will be the last options."
He continued: "All options presented have major problems in the long and medium term, but the alternative is the inability to pay salaries." He pointed out that in the short term he will rely on the cash reserve for a few months, while taking a series of austerity measures unprecedented at the state level.
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The source said, according to the newspaper, that "the options available to Prime Minister Mustafa Al-Kazemi are mostly difficult, but there are serious dialogues with advisers and economic experts, and during the past few days, several options have been reviewed to address the financial crisis, including external borrowing or the devaluation of the dinar."
He added: "There are also other options, including offering state factories and public properties for investment or sale, and printing the currency, but these will be the last options."
He continued: "All options presented have major problems in the long and medium term, but the alternative is the inability to pay salaries." He pointed out that in the short term he will rely on the cash reserve for a few months, while taking a series of austerity measures unprecedented at the state level.
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