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[size=30]The Central Bank reviews the advantages of decreasing the exchange rate..and warns of the risks of changing it again
2022-02-20
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Yes Iraq: Baghdad
Today, Sunday, the Central Bank reviewed the possible negatives and risks of repeating the dollar exchange rate change in short times, while reviewing the positives of raising the dollar exchange rate last year.
An authorized source in the Central Bank stated in a statement that “the current exchange rate has achieved many positive results, the most prominent of which was reducing the state’s general budget deficit to achieving a surplus at the end of 2021, and giving local producers and investors an important competitive advantage with imported goods.”
The source said, "The repetition of changing the exchange rate within short times without a study from the concerned authorities, leads to an economic recession, confuses the work of local markets, increases speculation on foreign currency, and squanders the gains made by the current exchange rate."
He added, "Despite the rise in global oil prices of an unstable nature, there is no connection between this rise and the objectives and results of changing the exchange rate, and that the current rise in oil prices will enable the Iraqi government to rebuild the Iraqi economy properly, and build sufficient financial buffers to face any Future fluctuations in international oil prices.
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