BAGHDAD - INA - Sam Mulla
Parliamentary Finance Committee revealed on Tuesday a plan to control the exchange rate, while suggesting the existence of visions to reduce the amounts sold in the auction currency.
Committee member Faisal Al-Issawi told the Iraqi News Agency (INA): “The Finance Committee holds periodic meetings for the governor of the Central Bank to discuss the most important financial matters,” noting that “today’s meeting came to discuss the initiatives of the Central Bank to mitigate the effects of the exchange rate and its role in activating the private sector and supporting investors for the path of soft loans.
He added that "the central bank has begun to provide a clear vision for these steps," noting that "there is a reluctance to help the central bank to make these steps a success."
Al-Issawi stressed that “the exchange rate change is in its infancy, and it is natural that it will witness great discrepancies,” noting that
He stated that "the process of changing the exchange rate is still under control, and the bank has a plan and a clear vision to address and control the issue," explaining that "the currency auction was part of the committee's discussion with the governor of the Central Bank, and there are visions about reducing the amounts sold in it."
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