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2022-03-09 06:16
A legal expert reveals loopholes that allow an appeal against the decision to raise the dollar exchange rate in the budget
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2022-03-09 06:16
Shafaq News/ Legal expert Ali Al-Tamimi identified, on Tuesday, constitutional violations by the decision to raise the dollar exchange rate against the local currency, allowing the possibility of appealing this decision in the country's financial budget bill in 2022.
Al-Tamimi said in a statement received by Shafaq News Agency, that raising the dollar exchange rate in the budget law is in violation of the constitution and the Charter of the International Covenant, and this decision can be challenged and returned to the government by Parliament and the budget law is not legislated.
He explained that the rise in the exchange rate of the dollar to 1450 dinars violates articles 30 and 31 of the Iraqi constitution, which require the state to provide a free, decent life and appropriate income. United Nations commitment.
The legal expert also indicated that the Central Bank Law by virtue of Law 56 of 2004 is an independent body under Article 3 of this law and also the instructions of the Central Bank of 2017, and therefore it is he who determines the exchange rate, and if there is an increase in the price, it is necessary to control market prices and prevent inflation, which Poverty will get poorer.
He continued by saying that this law, i.e. the budget law, can be challenged if it is legislated by Parliament before the Federal Court, and Parliament can not approve the legislation of this law and return it to the government for amendment because Parliament can do so constitutionally as it represents society in accordance with Article 61 of the Constitution as well as Article 13 of the Law Financial Management 6 of 2019".
Earlier in the day, the Federal Supreme Court (the highest judicial authority in Iraq) postponed the consideration of the case for restoring the dollar exchange rate to its predecessor until March 14.
Earlier in the day, the court held a session for the lawsuit regarding the re-exchange of the US dollar in relation to the Iraqi dinar to its predecessor, at the amount of (120,000) Iraqi dinars for every 100 dollars.
The court explained that it decided to postpone for the purpose of informing the Minister of Finance and the Governor of the Central Bank of Iraq to attend the next session.
On December 19, 2020, the Central Bank of Iraq officially announced the adjustment of the foreign exchange rate (the US dollar) to 145,000 dinars for every $100, according to the state’s general budget for the year 2021 approved by the House of Representatives.
It is noteworthy that the annual inflation in Iraq rose significantly after raising the exchange rate of the dollar against the dinar in the 2021 budget.
It is noteworthy that all prices of materials and goods in the Iraqi market witnessed a significant increase, in conjunction with the devaluation of the dinar, which sparked a wave of strong resentment among the popular circles, as well as the objections of some interested in economic affairs.
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Al-Tamimi said in a statement received by Shafaq News Agency, that raising the dollar exchange rate in the budget law is in violation of the constitution and the Charter of the International Covenant, and this decision can be challenged and returned to the government by Parliament and the budget law is not legislated.
He explained that the rise in the exchange rate of the dollar to 1450 dinars violates articles 30 and 31 of the Iraqi constitution, which require the state to provide a free, decent life and appropriate income. United Nations commitment.
The legal expert also indicated that the Central Bank Law by virtue of Law 56 of 2004 is an independent body under Article 3 of this law and also the instructions of the Central Bank of 2017, and therefore it is he who determines the exchange rate, and if there is an increase in the price, it is necessary to control market prices and prevent inflation, which Poverty will get poorer.
He continued by saying that this law, i.e. the budget law, can be challenged if it is legislated by Parliament before the Federal Court, and Parliament can not approve the legislation of this law and return it to the government for amendment because Parliament can do so constitutionally as it represents society in accordance with Article 61 of the Constitution as well as Article 13 of the Law Financial Management 6 of 2019".
Earlier in the day, the Federal Supreme Court (the highest judicial authority in Iraq) postponed the consideration of the case for restoring the dollar exchange rate to its predecessor until March 14.
Earlier in the day, the court held a session for the lawsuit regarding the re-exchange of the US dollar in relation to the Iraqi dinar to its predecessor, at the amount of (120,000) Iraqi dinars for every 100 dollars.
The court explained that it decided to postpone for the purpose of informing the Minister of Finance and the Governor of the Central Bank of Iraq to attend the next session.
On December 19, 2020, the Central Bank of Iraq officially announced the adjustment of the foreign exchange rate (the US dollar) to 145,000 dinars for every $100, according to the state’s general budget for the year 2021 approved by the House of Representatives.
It is noteworthy that the annual inflation in Iraq rose significantly after raising the exchange rate of the dollar against the dinar in the 2021 budget.
It is noteworthy that all prices of materials and goods in the Iraqi market witnessed a significant increase, in conjunction with the devaluation of the dinar, which sparked a wave of strong resentment among the popular circles, as well as the objections of some interested in economic affairs.
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