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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


    Economist: It Is “Wrong” To Change The Dollar Exchange Rate

    Rocky
    Rocky
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    Economist: It Is “Wrong” To Change The Dollar Exchange Rate Empty Economist: It Is “Wrong” To Change The Dollar Exchange Rate

    Post by Rocky Sat 19 Feb 2022, 6:49 am

    Economist: It Is “Wrong” To Change The Dollar Exchange Rate
    02/19/2022
    147


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    Earth News/ The General Coordinator of the Iraqi Economists Network, Bariq Muhammad Shubr, said today, Saturday, that it is a “mistake” to change the dollar exchange rate, giving several reasons for that.
    An inch told Earth News, "The political struggle over the rise in the dollar exchange rate has continued since 2012 and we are following this issue, and we have repeatedly announced our rejection of political interference in the matter of monetary policy and in the Central Bank."
    He added that "previous governments blatantly interfered with the independence of the Central Bank, and since then we have been witnessing trivial conflicts that are harmful to the Iraqi economy and the citizen over the exchange rate, and this thing is unreasonable."
    The economist continued, “We are not talking about the populist necessities of the exchange rate, but there are objective factors as Iraq is facing a very difficult financial crisis and the price of oil fell to $ 26 in April 2020, and Iraqi oil revenues in the same year fell to less than half, while salary expenses in the year itself exceeded 40 trillion dinars.
    He added that "everyone remembers the difficulty of paying salaries and the delay of the Ministry of Finance in paying salaries, and it was in front of two options, the best of which passed, either reducing salaries or borrowing, and resorted to borrowing, which was not sufficient to pay salaries, because of the political blocs' refusal to reduce salaries or impose taxes on salaries. The Ministry of Finance was forced to maintain a reserve The central bank has to raise the exchange rate.”
    Shuber stressed that “our position on the matter is clear that the timing is incorrect and there are alternative measures that could have been resorted to, but it is not correct that the error is treated with a mistake, especially after the statement of the Deputy Governor of the Central Bank that no amendment will be made to the current exchange rate, and this is a sound position because it is wrong to change the rate of exchange.” Current exchange.

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