Home
[size=35][size=35]Changing the exchange rate ... between the hammer of law and the anvil of popular pressure[/size]
[You must be registered and logged in to see this link.]
2021-03-23 | 03:50
[You must be registered and logged in to see this image.]
[/size]
5,508 Views
Report: Alsumaria News
Member of the Parliamentary Finance Committee, Jamal [You must be registered and logged in to see this link.]He stressed that the only practical and feasible step to reduce the exchange rate of the dollar against the dinar is to approach the House of Representatives with the Central Bank in this regard and not reduce it within the budget because it is not within the authority of the House of Representatives, pointing to several obstacles within the financial aspect that prevent the exchange rate adjustment currently.
And he said [You must be registered and logged in to see this link.] In an interview with Alsumaria News, "Some people are resentful of our positions and think that we are the reason for opposing the reduction of the dinar exchange rate against the dollar, and the decision was in our hands, but the truth that we want to communicate to everyone is that the decision is not in the hands of the House of Representatives and the monetary policy is subordinate to the Central Bank according to the bank law In its fourth article, which indicates that determining the exchange rate of the dinar against any other currency is the exclusive authority of the Central Bank, "indicating that" the only practical and feasible step to reduce the price is an approach by the House of Representatives to the Central Bank in this regard. "
He added [You must be registered and logged in to see this link.]"From the financial side, this matter is very difficult for several reasons, the first of which is that the budget has been fully prepared at the new price and the second is that the state's resources were estimated according to this amount, and the deficit reached about 71 trillion dinars, and it was reduced to 30 trillion dinars by Parliament. The budget has also decreased. Operational according to the new price, pointing out that "the other thing is that oil prices are not fixed and they have fallen during the past three days by five dollars, which means that there is no guarantee that oil prices will remain or rise further, and all those demanding a change in the exchange rate are linked to it. Amending the price of a barrel of oil, and they do not know that the change in the price of a barrel of oil from 42 to 45 took place after the committee approached the Ministry of Oil, and the last one agreed to the new price.
He stressed that "everyone was affected by the new price, which is something we all know and we hope to find ways to compensate employees and citizens, but the state's capabilities are simple, and the talk about pressures to reduce the price is behind many reasons, although the matter is related to a procedure that is within the authority of the Central Bank and not Parliament," stressing that we "" We are bound by laws and they do not give parliament the power to change the exchange rate of the dinar, and everyone must deal with transparency and clarity in front of the citizens in this matter. "
Head of the Rafidain Parliamentary Bloc Yonadam[You must be registered and logged in to see this link.] He stressed that adjusting the exchange rate of the dinar against the dollar within the budget now is a very difficult matter, while referring to an alternative mechanism to amend the exchange rate during the coming period.
And he said[You must be registered and logged in to see this link.] In an interview with Alsumaria News, "Monetary policy is on [You must be registered and logged in to see this link.]It is one of the prerogatives of the Central Bank, but changing the exchange rate was under the suggestion and pressure of the government in order to provide cash to cover salaries and other things and reduce the budget deficit, and it actually provided salaries, but it reduced the actual and purchasing value of all Iraqis by 20%, indicating that "the budget today was built on the basis of the exchange rate." It is difficult to change it at this stage, "
he added[You must be registered and logged in to see this link.], "The Central Bank is legally linked to Parliament as a supervising body for its work, and Parliament has the right to summon those involved in the bank and study those policies that led to changing the exchange rate," pointing out that "Parliament may be able in the coming period through a supplementary budget or reviewing the original budget after "Two or three months, adjusting the exchange rate according to the data on the ground in coordination with the Central Bank, but currently the budget should not be delayed more than it has been delayed, because any change in the exchange rate means changing the entire budget."
He stressed that "the difference in the price of a barrel of oil between what is in the budget and what is actually present. It can be used to pay off some foreign debts due to be paid or to establish and complete a number of investment projects that will contribute to employing local manpower and other sections that the government can propose to the House of Representatives to add." Within the original budget. "
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this link.]
Policy
[You must be registered and logged in to see this link.]2021-03-23 | 03:50
[You must be registered and logged in to see this image.]
[/size]
5,508 Views
Report: Alsumaria News
stressed the difficulty of changing the exchange rate of the dollar against the dinar by the House of Representatives, considering that it is outside its legal powers. At a time when a member of Parliamentary Finance referred to a single mechanism through which the exchange rate could be adjusted, another emphasized the amendment The exchange rate of the dinar against the dollar within the budget now is very difficult.
Member of the Parliamentary Finance Committee, Jamal [You must be registered and logged in to see this link.]He stressed that the only practical and feasible step to reduce the exchange rate of the dollar against the dinar is to approach the House of Representatives with the Central Bank in this regard and not reduce it within the budget because it is not within the authority of the House of Representatives, pointing to several obstacles within the financial aspect that prevent the exchange rate adjustment currently.
And he said [You must be registered and logged in to see this link.] In an interview with Alsumaria News, "Some people are resentful of our positions and think that we are the reason for opposing the reduction of the dinar exchange rate against the dollar, and the decision was in our hands, but the truth that we want to communicate to everyone is that the decision is not in the hands of the House of Representatives and the monetary policy is subordinate to the Central Bank according to the bank law In its fourth article, which indicates that determining the exchange rate of the dinar against any other currency is the exclusive authority of the Central Bank, "indicating that" the only practical and feasible step to reduce the price is an approach by the House of Representatives to the Central Bank in this regard. "
He added [You must be registered and logged in to see this link.]"From the financial side, this matter is very difficult for several reasons, the first of which is that the budget has been fully prepared at the new price and the second is that the state's resources were estimated according to this amount, and the deficit reached about 71 trillion dinars, and it was reduced to 30 trillion dinars by Parliament. The budget has also decreased. Operational according to the new price, pointing out that "the other thing is that oil prices are not fixed and they have fallen during the past three days by five dollars, which means that there is no guarantee that oil prices will remain or rise further, and all those demanding a change in the exchange rate are linked to it. Amending the price of a barrel of oil, and they do not know that the change in the price of a barrel of oil from 42 to 45 took place after the committee approached the Ministry of Oil, and the last one agreed to the new price.
He stressed that "everyone was affected by the new price, which is something we all know and we hope to find ways to compensate employees and citizens, but the state's capabilities are simple, and the talk about pressures to reduce the price is behind many reasons, although the matter is related to a procedure that is within the authority of the Central Bank and not Parliament," stressing that we "" We are bound by laws and they do not give parliament the power to change the exchange rate of the dinar, and everyone must deal with transparency and clarity in front of the citizens in this matter. "
Head of the Rafidain Parliamentary Bloc Yonadam[You must be registered and logged in to see this link.] He stressed that adjusting the exchange rate of the dinar against the dollar within the budget now is a very difficult matter, while referring to an alternative mechanism to amend the exchange rate during the coming period.
And he said[You must be registered and logged in to see this link.] In an interview with Alsumaria News, "Monetary policy is on [You must be registered and logged in to see this link.]It is one of the prerogatives of the Central Bank, but changing the exchange rate was under the suggestion and pressure of the government in order to provide cash to cover salaries and other things and reduce the budget deficit, and it actually provided salaries, but it reduced the actual and purchasing value of all Iraqis by 20%, indicating that "the budget today was built on the basis of the exchange rate." It is difficult to change it at this stage, "
he added[You must be registered and logged in to see this link.], "The Central Bank is legally linked to Parliament as a supervising body for its work, and Parliament has the right to summon those involved in the bank and study those policies that led to changing the exchange rate," pointing out that "Parliament may be able in the coming period through a supplementary budget or reviewing the original budget after "Two or three months, adjusting the exchange rate according to the data on the ground in coordination with the Central Bank, but currently the budget should not be delayed more than it has been delayed, because any change in the exchange rate means changing the entire budget."
He stressed that "the difference in the price of a barrel of oil between what is in the budget and what is actually present. It can be used to pay off some foreign debts due to be paid or to establish and complete a number of investment projects that will contribute to employing local manpower and other sections that the government can propose to the House of Representatives to add." Within the original budget. "
[You must be registered and logged in to see this link.]
» The Iraq Fund for Development approves steps to localize industries and attract foreign investments
» Parliamentarian: The region’s imaginary outlets have not been controlled yet
» Parliamentary Oil: We monitor the work of foreign companies and will hold them accountable for viola
» A deputy reveals the details of the “contradictory interest” principle in government loans
» Report: Oil companies’ refusal to amend their contracts with the region will undermine efforts to re
» Al-Emaar announces the preparation of the structure of the National Data Center for Land Administrat
» A government meeting discusses the establishment of two factories to manufacture passenger buses and
» Planning discusses with the World Bank ways to enhance cooperation and finance the Development Road
» Tomorrow, the House of Representatives will organize a conference on “legislative and supervisory co
» Development, headed by Al-Sudani, approves steps to localize industries and attract foreign investme
» The Minister of Transport discusses with his Saudi counterpart ways to develop the transport sector
» Official working hours in Iraq will be suspended for 9 days next month
» "Shocking numbers"... revealing a quarter of a million who exceeded protection salaries
» The Communications Authority announces new controls for the sale and trading of wired and wireless d
» The Central Bank opens branches of Al-Rashid and Al-Rafidain banks for pilgrims to exchange dollars
» Iraq signs a contract with the Chinese "Jera and Petro Iraq" to develop the Mansouriya field
» A year after the collapse of his deal.. What is the importance of the Mansourieh Al-Ghazi contract t
» Parliamentary Finance plans to host Central Bank officials because of the “pilgrims’ dollar”
» Sudanese: Revenues in the budget amounted to 144 trillion and 336 billion dinars
» Al-Sudani chairs the third meeting of the Board of Directors of the Iraq Fund for Development
» The Minister of Transport participates in the “Future Aviation Conference 2024” in Saudi Arabia
» Al Rasheed Bank launches a batch of loans to support graduates and job seekers
» For the first time after its accession, Iraq participates in the 33rd session of the European Bank G
» Signing an initialed contract to develop the Mansouri gas field
» Al-Sudani: The United Nations asked us for two years to finish the work of their mission in Iraq
» Al-Shuhada announces the launch of the link to apply for financial aid
» Important security laws awaiting legislation. Learn about them
» A parliamentary demand to legislate a law to recover the proceeds of corruption
» Oil signs a contract with a coalition of Chinese companies JERA and Iraqi Petroleum
» Increase in foreign remittance sales at the Central Bank of Iraq auction
» Among them is related to capital...economic questions haunting the work of digital banks
» "Rentier economy"... Iraq counts its revenues within 3 months
» Iraq signs a contract to develop the Mansouriya gas field
» Al-Allaq announces the start of the second phase of the banking sector restructuring plan
» Al-Allaq announces the start of the second phase of the banking sector restructuring plan
» The path to development... transportation explains the importance of contracting with an internation
» Muhammad Mokhber...from the presidency of the Setad Investment Fund to the helm of power in Iran
» Iraq recently contracted to purchase it. Learn about the type of the Iranian president’s crashed pla
» An unprecedented step.. Kurdistan takes a new measure regarding its non-oil revenues
» The Iraqi Trade Bank announces facilities for the health sector with external transfer operations
» Al-Sudani describes basic services as “items of interconnection” between the citizen and the governm
» The Central Bank begins the second phase of its banking reform strategy
» Sudanese: Priority is for service and infrastructure projects
» May 26th...the date for the “trial census”
» Starting the second phase of the banking sector restructuring plan
» 90 billion dinars to move to clean energy projects
» National Security dismantles a fraud network
» Work: There is a great demand for registration with the Social Security Law
» The Federal Republic rejects the challenge to the seat distribution system in the local elections
» Opening 3 pharmaceutical factories
» An Iraqi medical delegation prepares for the evacuation of wounded Palestinians to Baghdad
» Kurdistan is awaiting a “parliamentary decision” and the region’s presidency has set its sights on “
» The International Monetary Fund calls on Iraq to cancel appointments to correct financial conditions
» After yesterday's "chaos"... How do you resolve the "dilemma" of choosing the Speaker of the Iraqi P
» Iraq: Shiite pressure to end the tasks of the UN mission under the pretext of exceeding powers and f
» Dr. Goldran Abdel Rahim, Professor of Banking and Finance: We must pay great attention to technology
» The Federal Court rejects the appeal regarding the seat distribution system for the provincial counc
» Heyman Murad: The number of people working in the agricultural sector in Erbil exceeds 150 thousand
» Another 15 thousand employees in the Kurdistan Region receive their salaries through “My Account”
» Al-Mashhadani will not return.. How did Humam Hamoudi’s house meeting overthrow Al-Maliki’s candidat
» The Minister of Electricity calls for the ministry's energies to be mobilized in preparation for the
» The Iraqi Central Bank reveals a trend to license digital banks
» Former Iranian Minister: America caused a major plane crash
» Legal odds are that Al-Mandalawi will remain Speaker of Parliament until the end of the current sess
» The Foreign Ministry confirms Iraq's readiness to provide all forms of support to Iran
» Al-Sudani: The development path is the strategic corridor that will connect the interests of the reg
» The President of the Republic offers his condolences on the death of the Iranian President and his F
» The Council of Ministers votes on the budget schedules and refers them to Parliament
» An unruly policy or a necessary need? .. Floating the currency between economic benefit and disadvan
» utube 5/19/24 BRICS to Open a Central Bank Iraqs Relationship to BRICS Exchange Rate Up
» Floating the Iraqi dinar A solution to fill the "gap" of its turbulent price against the dollar
» Kanna: The Constitutional Amendments Committee was completely marginalized for two reasons
» The repercussions of the Ukrainian company continue.. Is Iraq facing a real economic disaster?
» A government body sends an invitation to the Central Bank regarding the Hajj dollar
» Pessimism surrounds the electricity situation during the summer: the suffering will be repeated and
» Presidency of Parliament is Haqq Anbari.. Why does “Progress” stand against this entitlement? - Urge
» Bloomberg: Iraq achieves sufficiency in diesel fuel and stops importing it
» Hajj calls on the Central Bank to direct banks to open their doors to pilgrims to exchange dollars
» In an extraordinary session...the Council of Ministers votes today on the budget schedules
» Al-Khanjar: Parliament members presented a chaotic model that does not befit Iraq
» The President of the Republic told NATO: The Iraqi army has the readiness to face security challenge
» List of countries exporting most goods and services in the world.. What is Iraq’s rank?
» The General Tax Authority initiates a package of reforms to achieve “two goals”
» A Jordanian minister reveals "significant" coordination with Iraq and talks about smuggling operatio
» The Sudanese confirms to his Kuwaiti counterpart the depth of the two countries’ relations and the s
» With documents... Finance publishes controls that concern the segment of employees, including promot
» A female representative explains the government’s ambition to reach the production of 8 million barr
» Next month... a major conference to announce 8 cities as investment opportunities
» The presence movement: Iran urged Barzani to participate in the region’s elections
» In a strange incident, they disowned him because of Al-Halbousi’s anger at him
» Race for the Presidency of Parliament.. The Sunni conflict is worsening
» Responding to the challenge to the constitutionality of the seat distribution system in the provinci
» Demanding an increase in the allocations for two ministries in the current year’s budget
» Parliamentary Finance: Employee salaries amounted to 8 and a half trillion
» In the amount of 10 million... an Iraqi government bank begins granting loans to married couples
» Hajj and Umrah Authority: Iraqi banks refrain from receiving pilgrims
» The Minister of Electricity calls for mobilizing energies in preparation for the upcoming summer sea
» The United Nations Development Program approves the electronic payment services system in Iraq