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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    The “Dollar Movement”: Parliament “summons” the leaders of the money... and a government advisor com

    Rocky
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    The “Dollar Movement”: Parliament “summons” the leaders of the money... and a government advisor com Empty The “Dollar Movement”: Parliament “summons” the leaders of the money... and a government advisor com

    Post by Rocky Fri 18 Feb 2022, 8:08 am

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    The “Dollar Movement”: Parliament “summons” the leaders of the money... and a government advisor comments: It is high time
    Feb 17 2022



    Parliamentary movement and government comment on the exchange rate (Facebook)
    Ultra Iraq - Editorial Team
    A parliamentary movement was launched parallel to the statements of the leader of the Sadrist movement, Muqtada al-Sadr, about the dollar exchange rate and its repercussions after the change and the depreciation of the Iraqi dinar and the rise in prices in general.
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    Al-Sadr presented 6 proposals regarding the exchange rate of the dollar, including the summoning of Ali Allawi and Mustafa fearful in Parliament
    The Iraqi parliament has set next Saturday, February 19, 2022, a date for a meeting to discuss the dollar exchange rate with Finance Minister Ali Allawi and the Governor of the Central Bank headed by the First Deputy Speaker of Parliament Hakim al-Zamili, according to a statement by the Council’s media department.
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    This comes after the Presidium of Parliament decided to “summon” the Minister of Finance and the Governor of the Central Bank in the dome of the House of Representatives immediately.
    The announcement of the meeting came based on "Al-Sadr's directives", who had previously made 6 proposals regarding the exchange rate, including summoning the minister and the governor.
    On February 17, 2022, al-Sadr wrote proposals, including stopping currency smuggling and looking into the matter of some banks in their explicit names, as well as regulating the currency market and enacting laws “that increase the value of the dinar exchange rate,” as well as “dealing firmly with some banks belonging to some parties.”
     

     
    Al-Sadr returned to talk about the exchange rate a day after his call to "punish all those who seek to do so from among the merchants and the like, through economic security and in accordance with the law."  
    And he stressed, via a tweet on February 16, "taking into account the poor class, which hardly gets its daily sustenance through the ration card and by not increasing the price of important basic commodities, especially vegetables, grains, construction prices, and the like."  
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    As for the executive side, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, suggested a mechanism to address the side effects of changing the exchange rate, which is "timely" because it negatively affected "especially the poor and low-income classes without compensation."
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    A government advisor suggested reducing customs taxes on imported foodstuffs, medicines and local production supplies
    Saleh pointed out that "this aspect directly bears the importance of significantly reducing customs taxes on imported foodstuffs, pharmaceuticals and local production necessities, as well as restructuring government support for goods and services that directly affect the poor social classes."
    He added: "The most important thing is to start adopting employment policies for the unemployed and expanding the cash income space with additional and exceptional measures that lead to the employment of the unemployed in a tangible and comprehensive manner and creating sources of cash income that increase the welfare of society."
    Unemployment, according to the government advisor, "is one of the most dangerous economic and social scourges in our country and becomes more dangerous when accompanied by price developments that erode cash income or the purchasing power of family income sources. It is a double financial slope that must be guarded against."
    The government had raised the exchange rate in November 2020 in the 2021 budget by about 23%, which led to an increase in the prices of all goods, food and service commodities, building materials, and others.
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    Economists believe that it is difficult to re-change the dollar exchange rate, but its effects can be mitigated
    Economists point out a set of priorities that the government was supposed to undertake if the exchange rate was changed to be effective, such as combating economic crime, activating central markets, the ration card, and the social protection network, as well as providing job opportunities in the private sector.
    The former head of the Parliamentary Finance Committee, Haitham al-Jubouri, sees a practical difficulty in changing the dollar exchange rate again, and says that the change means the collapse of internal and external confidence in the Iraqi dinar.
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