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Economy News - Baghdad
The Central Bank announced, on Monday, the exhaustion of all steps related to monetary policy, and while indicating that the electronic platform is a national option for organizing the foreign trade process, it stressed the importance of the decision to allow imports in the names of companies and persons.
The Central Bank of Iraq adviser, Ihsan Shamran al-Yasiri, told the official news agency, “The meeting of Prime Minister Muhammad Shia’ al-Sudani with a group of merchants and representatives of the Central Bank regarding the issue of the dollar exchange rate was an important meeting,” noting that “the issue of the dollar exchange rate is not with the Central Bank.” ".
He added, "The central bank has exhausted all steps related to monetary policy, and the issue is now related to state institutions concerned with dealing with merchants regarding import and export operations," explaining that "the tax system reform step is important, especially the Prime Minister's speech regarding not allowing corruption in outlets and tax procedures." .
And he indicated, "The merchants assigned to deal with the General Tax Authority began to worry about communication and exposure to tax institutions, so they always withheld their purchases," noting that "the Central Bank sent a message to the Prime Minister with the need to liberate the citizen from the problems and complexities of the high bureaucracy in tax work."
And he stated, "The Central Bank does not have a problem with dollar resources, but a problem with dollar supply," pointing out that "the electronic platform is a national option for organizing the process of foreign trade and organizing information."
He pointed out that "the platform imposes that the merchant who buys the dollar is the same one who brings the goods in his name," explaining that "Iraq is a country that complies with international controls."
He continued, "The problem is with financing foreign trade, which is now putting pressure on the exchange rate, because merchants are worried and afraid to come and expose themselves," noting that "the platform has become necessary, which is that the merchant who buys the dollar brings the goods in his name at the outlets."
Regarding the documentary credit, Al-Yasiri stressed that "the documentary credit took advantage of being at a lower price in order to encourage the public and merchants," explaining that "the important issue that was taken by the Council of Ministers is to allow imports in the name of companies and individuals as well."
Added 01/23/2023 - 6:53 PM
Updated 01/24/2023 - 1:18 PM
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