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2022-02-20 06:32
Concerning the price of the dollar .. What did the governor of the Central Bank say in Parliament?
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2022-02-20 06:32
Shafaq News/ An informed source revealed the details of the meeting that took place, on Saturday, between the Deputy Speaker of Parliament, Hakim Al-Zamili and the Governor of the Central Bank, Mustafa Ghaleb Makheeb, in the presence of heads of some parliamentary blocs.
The source told Shafak News Agency, "The governor of the Central Bank explained in detail the gains that have been made for the country regarding the adoption of the current exchange rate of the dollar against the local currency, including the payment of some debts owed by Iraq to countries such as Kuwait, in addition to providing important investment projects with the necessary allocations."
And Makheif stressed, according to the source, that "it is very difficult to change the dollar exchange rate and return it to what it was, because the damages of that will be severe, given that betting on the rise in oil prices is not without risk, as it is variable and unstable."
He pointed out that "resorting to raising the dollar exchange rate was a middle and temporary solution, and much better than the proposals of some proposed solutions, such as reducing employee salaries or borrowing from international banks, and the consequences that harm the Iraqi economy," according to what the source said.
The source added that "when the meeting demanded the Governor of the Central Bank to provide effective solutions to remove the injustice against the citizen first affected by the high exchange rate of the dollar, he answered that the solutions require taking governmental measures in this, including securing the food basket (the ration ration) in its entirety, in addition to increasing the allocations. The finances of the Ministry of Labor and Social Affairs and, consequently, an increase in the salaries of those covered by the regulations of the Ministry of Labor, as if a salary of 200 thousand dinars was granted to those who were receiving a salary of 150 dinars.
The source added that "the committee that the deputy speaker of Parliament called for its formation will exercise its duties impartially and professionally, as the governor of the central bank pledged to inform the committee of all the work of the central bank and its financial policy."
Al-Zamili had hosted the governor of the Central Bank in response to an invitation from the leader of the Sadrist movement to find out the reasons and repercussions of raising the dollar exchange rate against the local currency.
And in late 2020, the Central Bank of Iraq decided to reduce the value of the local dinar against the dollar from 1190 dinars to the dollar to 1450 dinars, to contain a financial crisis that Baghdad was suffering from as a result of a significant decline in oil prices due to the repercussions of the Corona pandemic.
The decision caused prices to rise in local markets by more than 20%, which negatively affected people with low incomes and the middle class.
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The source told Shafak News Agency, "The governor of the Central Bank explained in detail the gains that have been made for the country regarding the adoption of the current exchange rate of the dollar against the local currency, including the payment of some debts owed by Iraq to countries such as Kuwait, in addition to providing important investment projects with the necessary allocations."
And Makheif stressed, according to the source, that "it is very difficult to change the dollar exchange rate and return it to what it was, because the damages of that will be severe, given that betting on the rise in oil prices is not without risk, as it is variable and unstable."
He pointed out that "resorting to raising the dollar exchange rate was a middle and temporary solution, and much better than the proposals of some proposed solutions, such as reducing employee salaries or borrowing from international banks, and the consequences that harm the Iraqi economy," according to what the source said.
The source added that "when the meeting demanded the Governor of the Central Bank to provide effective solutions to remove the injustice against the citizen first affected by the high exchange rate of the dollar, he answered that the solutions require taking governmental measures in this, including securing the food basket (the ration ration) in its entirety, in addition to increasing the allocations. The finances of the Ministry of Labor and Social Affairs and, consequently, an increase in the salaries of those covered by the regulations of the Ministry of Labor, as if a salary of 200 thousand dinars was granted to those who were receiving a salary of 150 dinars.
The source added that "the committee that the deputy speaker of Parliament called for its formation will exercise its duties impartially and professionally, as the governor of the central bank pledged to inform the committee of all the work of the central bank and its financial policy."
Al-Zamili had hosted the governor of the Central Bank in response to an invitation from the leader of the Sadrist movement to find out the reasons and repercussions of raising the dollar exchange rate against the local currency.
And in late 2020, the Central Bank of Iraq decided to reduce the value of the local dinar against the dollar from 1190 dinars to the dollar to 1450 dinars, to contain a financial crisis that Baghdad was suffering from as a result of a significant decline in oil prices due to the repercussions of the Corona pandemic.
The decision caused prices to rise in local markets by more than 20%, which negatively affected people with low incomes and the middle class.
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