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Mar. 11, 2022
[size=62]Why Iraq cannot afford a stronger dinar[/size]
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Women in Sadriyah Market in Baghdad, Iraq on Sept. 10, 2021. (Photo via Getty Images)
While Iraq’s political elites remain in deadlock over government formation, the value of the Iraqi dinar has reemerged as a source of contention over which to score populist points. To this end, the parliament—upon the [You must be registered and logged in to see this link.] of Deputy Speaker Hakem Al-Zameli of the Sadrist Movement—hosted Finance Minister Ali Allawi on Feb. 28 to [You must be registered and logged in to see this link.] the exchange rate and the impacts of inflation on ordinary Iraqis. The federal supreme court will on March 14 also host Allawi and the governor of the Central Bank of Iraq (CBI) based on a lawsuit that demands the strengthening of the dinar.
The CBI [You must be registered and logged in to see this link.] the national currency in Dec. 2020 amid a severe drop in global crude prices, which threatened economic collapse given Iraq’s heavy dependence on oil export revenues. The devaluation was highly unpopular as it resulted in an immediate increase in prices of imported goods...
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[size=62]Why Iraq cannot afford a stronger dinar[/size]
[You must be registered and logged in to see this link.]/[You must be registered and logged in to see this link.]
Women in Sadriyah Market in Baghdad, Iraq on Sept. 10, 2021. (Photo via Getty Images)
While Iraq’s political elites remain in deadlock over government formation, the value of the Iraqi dinar has reemerged as a source of contention over which to score populist points. To this end, the parliament—upon the [You must be registered and logged in to see this link.] of Deputy Speaker Hakem Al-Zameli of the Sadrist Movement—hosted Finance Minister Ali Allawi on Feb. 28 to [You must be registered and logged in to see this link.] the exchange rate and the impacts of inflation on ordinary Iraqis. The federal supreme court will on March 14 also host Allawi and the governor of the Central Bank of Iraq (CBI) based on a lawsuit that demands the strengthening of the dinar.
The CBI [You must be registered and logged in to see this link.] the national currency in Dec. 2020 amid a severe drop in global crude prices, which threatened economic collapse given Iraq’s heavy dependence on oil export revenues. The devaluation was highly unpopular as it resulted in an immediate increase in prices of imported goods...
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