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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


    Devaluation Of The Exchange Rate .. Its Effects And Repercussions On The Iraqi Economy

    Rocky
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    Devaluation Of The Exchange Rate .. Its Effects And Repercussions On The Iraqi Economy Empty Devaluation Of The Exchange Rate .. Its Effects And Repercussions On The Iraqi Economy

    Post by Rocky Sat 19 Feb 2022, 6:45 am

    [size=38]Devaluation Of The Exchange Rate .. Its Effects And Repercussions On The Iraqi Economy
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    LAST UPDATE 02/19/2022 | 2:05 PM
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    Books / Haider Sabi …
    Iraq’s devaluation of the Iraqi dinar towards the US dollar did not come out of luxury, as the decision would not have seen the light if it had not been for the extensive study by economic experts, the owner of which generated the conviction of Iraq’s representatives to vote on the decision later..
    The Central Bank of Iraq was compelled to take this A step after the barrel price reached below (30) dollars per barrel, and at that time the Central Bank of Iraq began to spin to grind the Federal Reserve. If this nibbling process continues, the Iraqi economy will gradually reach the point of collapse.
    Yes, Iraq maintained a semi-balanced monetary policy at the time, which positively affected the movement of capital and reduced dollar sales and currency smuggling, and thus the percentage of speculation in the market decreased, although we know that the process of raising the price of the dollar will not produce its real results except on the medium and long levels.
    With this positivity rate, negative blows must be received, directed precisely at low-income and self-employed people. Therefore, we find rises in inflation rates and poverty line rates, with an increase in the unemployment rate and market stagnation.
    The Iraqi government had to reduce the repercussions of the exchange rate increase and find appropriate mechanisms to support low-income people, but it was unable to achieve this. regarding it.
    Now, it is difficult to change the exchange rate of the dollar with the push of a button. We do not want to repeat the wrong policy in the sudden increase in the exchange rate to the use of the qualitative antagonist, which will also constitute a shock to monetary and even financial policy that is not safe from its repercussions, while it came suddenly as well..
    The gradual decline in the value of the dollar towards the Iraqi dinar with the intensification of monetary policy beyond dependence on the rent economy (selling oil) will contribute significantly to the fragmentation of financial inflation and alleviating the repercussions of the decision taken on the movement of the market, as well as supply and demand in the currency sale market, especially if there is the will of the portfolio In collecting the revenues of the border crossings and reducing speculation in the dollar price.
    The International Monetary Fund and the World Bank supported Iraq's move at the time to reduce the value of 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. This is a fact that advocates of devaluing the exchange rate must put into their accounts.
    The call of the leader of the Sadrist movement, Muqtada al-Sadr, and if it came out with national motives, in order to relieve the burdens of the Iraqi citizen, it remains subject to study by economists. Therefore, a higher committee must be formed that includes senior economists, experts and academics, with the Minister of Finance for research and study, and before recommendations are submitted to the General Secretariat, so that we can respond then The negative repercussions of the International Monetary Fund towards Iraq, as a proxy for the Iraqi economy to be subjected to shocks that undermine the current monetary stability.
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