An economist describes the Central Bank's measures regarding the dollar crisis as "inadequate": it will continue
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Baghdad today - Baghdad
The economist, Abd al-Rahman al-Mashhadani, saw that the dollar crisis continues in the event of a continuing deficit in cash transfers in Iraq, while noting that the procedures of the Central Bank of Iraq "are still inadequate."
He said in a televised interview, followed by (Baghdad Today): "The central bank's procedures are still deficient, there is a deficit in cash transfers, and in light of this deficit, the dollar crisis continues."
And he added, "Sales fell by half on the electronic platform, on the day the closing of the four banks was implemented by the US Federal Reserve."
And he indicated that "the only country that has been excluded from this platform since 2006, and the US Federal Reserve warned to cancel the exception two years ago."
And he believed that the cancellation step "closed the outlet for smuggling money abroad,"
He added, "Until now, the central bank is unable to persuade merchants to go to the window for selling dollars, instead of going to the parallel market," noting that this step is "for the purpose of determining Iraq's need for dollars for the purpose of import.”
The exchange rates of the dollar are witnessing a big jump, due to the sanctions imposed by the US Federal Bank on 4 Iraqi banks.