The exchange rate ... a strongly-worded parliamentary stance on the statements of the Minister of Fi

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[size=52]The exchange rate ... a strongly-worded parliamentary stance on the statements of the Minister of Finance[/size]

[size=45]Member of the Legal Committee, Representative Hussein Al-Aqabi, considered, on Wednesday (March 3, 2021), the statement of the Minister of Finance, Ali Abdul Amir Allawi, regarding the inability to change the exchange rate of the dollar, which he considered unsuccessful.[/size]
[size=45]Al-Oqabi said in an interview that “the legislative authority is the authority to decide on financial matters from imposing financial burdens, whether they are fees or taxes, and the recent statement of the Minister of Finance regarding the exchange rate of the dollar is unsuccessful, and if the exchange rate increase came in accordance with the Central Bank Law, but it can be corrected and amended. By the legislative branch. ”[/size]
[size=45]He added that “the position of the Minister of Finance is unsound, negative, and unconstitutional and cannot be accepted at all,” stressing that “the House of Representatives must assume its moral and constitutional responsibility in this direction because the Iraqi people are under great pressure due to the increase in the exchange rate, which led to an increase in prices by more than 30% of what created great economic and financial burdens on large segments of the people.[/size]
[size=45]Al-Aqabi called for "the need to correct the equation by Parliament, as it is a moral obligation to support large segments of Iraqis," stressing "the need for the government to be aware of its legal and constitutional rights and to feel the suffering of millions of poor and simple people."[/size]
[size=45]On Tuesday (March 2, 2021), Minister of Finance Ali Abdul Amir Allawi made new statements regarding changing the exchange rate of the dollar and the 2021 budget, while stressing that the exchange rate cannot be modified.[/size]
[size=45]Allawi said in an interview with the Iraqi News Agency (INA), "The exchange rate of the dollar is a governmental decision that cannot be changed daily as desired," indicating that "the markets have accepted the current exchange rate and will give incentives over the coming years to the private sector and strengthen the reserve."[/size]
[size=45]The minister promised to "find stability by paying the salaries of employees on time," while noting that "the external debts amount to 60 billion dollars and the internal 70 trillion dinars."[/size]
[size=45]The Central Bank of Iraq issued a statement officially announcing the official change of the dollar exchange rate to 1460 dinars at the request of the Finance Ministry.[/size]
[size=45]The bank stated in a statement, at the end of last year, that based on the above, the Central Bank of Iraq decided to amend the foreign currency exchange rate as follows:[/size]
[size=45]1450 dinars per dollar is the purchase price of foreign currency from the Ministry of Finance[/size]
[size=45]1460 dinars per dollar the selling price of foreign currency to banks[/size]
[size=45]1470 dinars per dollar is the selling price of foreign currency to the public[/size]
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