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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


    "Recession, confusion and speculation" .. the central bank warns against changing the exchange rate

    Rocky
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    • Post n°1

    "Recession, confusion and speculation" .. the central bank warns against changing the exchange rate Empty "Recession, confusion and speculation" .. the central bank warns against changing the exchange rate

    Post by Rocky Sun 20 Feb 2022, 3:07 pm

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    "Recession, confusion and speculation" .. the central bank warns against changing the exchange rate
    February 20 2022
    Ultra Iraq - Editorial Team
    The Central Bank of Iraq launched a statement regarding the exchange rates of the dollar in conjunction with the debate between the Sadrists and Finance Minister Ali Allawi, as well as hosting the bank’s governor and his deputy in the parliament.
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    The central bank said that changing the exchange rate within short times leads to an economic recession
    The bank published the statement, quoting an “authorized source” from it, in which he said 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.” .
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    The source pointed out that "the repetition of changing the exchange rate within short times without studying by the concerned authorities, leads to economic recession, confuses the work of local markets, increases speculation on foreign currency, and dissipates 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 confront Any future fluctuations in international oil prices.
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    Since the start of the debate between the Minister of Finance and the Sadrists, the exchange rates of the US dollar against the Iraqi dinar recorded a new decline in the capital, Baghdad.
    The decline comes in conjunction with the Iraqi Parliament holding a session to discuss the dollar exchange rate, in the presence of the Governor of the Central Bank, Mustafa Ghaleb Makheeb, while Finance Minister Ali Allawi was absent from the session.
    The House of Representatives, headed by the First Deputy Speaker of Parliament Hakim Al-Zamili, had hosted the Governor of the Central Bank, Mustafa Ghaleb and his deputy, after inviting the leader of the Sadrist movement, Muqtada Al-Sadr, to "discuss the consequences of the price hike as a result of raising the dollar exchange rate."
    At the same time, the head of the National Coalition, Iyad Allawi, said that "the change in the dollar exchange rate came after consultations with all the blocs that participated in the government, and therefore trying to evade the responsibility of this decision or throw it at others will not deceive the people."  
    Allawi called on the media not to deal with fabricated news, "which would complicate matters further."  
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