The Minister of Finance explains the reason for not attending the parliament meeting: I will officia

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[size=52]The Minister of Finance explains the reason for not attending the parliament meeting: I will officially request a session[/size]

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[size=45]On Saturday, Finance Minister Ali Abdul-Amir Allawi sent a letter to the House of Representatives in which he confirmed his inability to attend the meeting held to discuss the dollar exchange rate.[/size]
[size=45]Hakim Al-Zamili, the first deputy speaker of the parliament, quoted Allawi as saying, “I would like to inform that I am unable to attend today’s meeting, and I will submit an official request to the House of Representatives to hold a session for a vote of confidence, and I will always be prepared and cooperated.”[/size]
[size=45]Earlier in the day, the House of Representatives held a meeting in the Constitutional Hall headed by Hakim Al-Zamili, First Deputy Speaker of Parliament, to discuss the reality of the dollar exchange rate against the local currency.[/size]
[size=45]The Governor of the Central Bank, Mustafa Ghaleb Mokhif, his deputy and a number of officials in the bank attended the meeting, while Finance Minister Ali Allawi and his ministry boycotted the meeting, according to our correspondent.[/size]
[size=45]In his speech during the start of the meeting, Al-Zamili promised the Minister of Finance to question him under the dome of Parliament, and to issue a decision banning him from traveling outside Iraq.[/size]
[size=45]Al-Zamili accused the Minister of Finance of “transferring his losing experiences to the companies he managed abroad to Iraq, saying that he (the minister) “did not provide anything to this country, and contributed to the rise of Iraq’s debts to 27 trillion dinars in just one year.”[/size]
[size=45]He also mentioned that the Ministry of Finance has not sent its financial accounts so far, and has not taken any measures to collect debts with communication companies, smuggled money and aliens.[/size]
[size=45]On Thursday, the Presidency of the Iraqi Parliament announced that it had summoned Finance Minister Ali Allawi and Central Bank Governor Mustafa Ghalib to attend the council building.[/size]
[size=45]The Presidency stated, in a brief statement, that the summoning of financial officials came as a "response" to the directives of the leader of the Sadrist movement, Muqtada al-Sadr.[/size]
[size=45]On Thursday, Al-Sadr presented six proposals regarding the exchange rate of the dollar against the Iraqi dinar, including summoning the Minister of Finance, Ali Allawi, and the governor of the Central Bank, Mustafa Ghaleb, immediately.[/size]
[size=45]Al-Sadr’s proposals included, “strongly stopping currency smuggling, looking into the matter of some banks (such as Al-Sharq Al-Awsat, Al-Qabed, and Al-Ansari) belonging to some people who control the currency, and other private banks, and dealing firmly with banks belonging to some of the parties controlling the country and people.”[/size]
[size=45]In addition, al-Sadr urged "to organize the Iraqi currency market centrally and in a correct manner, by enacting some laws that increase the value of the dinar exchange rate."[/size]
[size=45]On Friday, the currency market in the city of Sulaymaniyah urged residents not to sell their hard currency, dollars, at a low price.[/size]
[size=45]The market sent a message to the residents, saying, "It is better to be careful and not sell your dollars at a cheap price until the morning of the next day of the Iraqi parliament meeting to see what will happen."[/size]
[size=45]According to the letter, "the market is unstable and prices are unreasonable."[/size]
[size=45]On Friday, an official source in the Iraqi Ministry of Finance strongly ruled out the possibility of changing the exchange rate and reducing the value of the dollar against the dinar because of its negative repercussions on the country's economy, after the demands of the Sadrist movement's leader Muqtada al-Sadr to conduct a review of this file.[/size]
[size=45]The official source said that the change in the exchange rate of the US dollar against the Iraqi dinar came after the drop in oil prices to below 30 dollars per barrel, and the decrease in the financial revenues achieved from selling crude at the end of the year 2020.[/size]
[size=45]He explained that "the exchange rate of the dollar against the Iraqi dinar is fixed and cannot be changed easily."[/size]
[size=45]The source, who asked not to be named because he was not authorized to declare, added that “the International Monetary Fund and the World Bank supported Iraq’s move at the time to devalue the dinar against the hard currency, and any change in the exchange rate without studying will have a negative impact on the financial and economic situation in Iraq.” .[/size]
[size=45]It is noteworthy that the annual inflation in Iraq rose significantly after raising the exchange rate of the dollar against the dinar in the 2021 budget, to equal every 100 dollars 145 thousand dinars, after it was 121 thousand.[/size]
[size=45]It is worth noting that all the prices of materials and commodities in the Iraqi market witnessed a significant increase, in conjunction with the devaluation of the dinar, which sparked a wave of strong resentment among the popular circles, as well as the objections of some interested in economic affairs.[/size]
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