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Al-Sudani: All possibilities are contained in adjusting the exchange rate
The first 2023/02/01
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Baghdad: morning
Prime Minister Muhammad Shia al-Sudani said, yesterday, Tuesday, that Iraq's financial situation is at its best, reassuring citizens that the dinar is the strongest, and while he pointed out that all possibilities are contained in adjusting the exchange rate, which will discuss the issue of its fluctuations during the visit of an Iraqi government delegation to Washington soon, the position has been decided. The government regarding the appointments file in the 2023 budget, stressing at the same time that the decision to release the accused, Nour Zuhair, in the tax secretariat case, was not governmental, and there are effective official bodies in the previous government involved in the case, while stressing that security and sensitive positions and sites are outside any investment or political interference and are not subject to for allotment.
The Prime Minister added, in an interview with Al-Iraqiya Al-Akhbariya, which was followed by “Al-Sabah”, that “holding the 25th Gulf Championship and our team winning the cup is a great joy and the result of the effort of a team from the Council of Ministers that took important decisions within 52 days, after the government started making preparations for this tournament, and the efforts of the Ministry of Youth and Sports combined And the Football Association and the national team with its technical and administrative staff and the heroic players, in addition to the Basra Governorate, the governor and the honorable people of Basra, who reflected a bright image of the Iraqi citizen.
Al-Sudani explained the reasons for the fluctuations in the exchange rate as “dating back to international standards and what is related to the relationship between the Central Bank, the US Federal Bank and the US Treasury Department, and there was an agreed mechanism to control the movement of money transfers called (compliance standards) for the global banking system, which is a memorandum signed with the Central Bank.” two years ago to proceed with these procedures so that the central transfer system would be through an electronic platform and be audited,” indicating, “the procedures were not at the required level in terms of qualifying banks by the Central Bank and the previous government, and private banks and merchants were supposed to prepare for this method.”
And he indicated that "the Iraqi merchant refrains from going to obtain an import license, open a documentary credit and pay the tax, but rather goes to an exchange company to transfer money to a specific country and then gets the goods."
Al-Sudani stressed, "We always talk about the existence of forged invoices and the exit of money abroad through smuggling, and this is a reality," surprisingly, "from imports amounting to 300 million dollars per day."
And he stated, “This explains that the currency was fleeing abroad, and this has been a chronic problem for years,” asking: “What has stopped life, changed, or lost in the markets? Except for the rise in prices in some materials, during the sale of the central bank to 30 or 40.” Or 50 million dollars a day, and previously it was sold 300, 200 and 250 million.
He added, "The issue of proving forgery or smuggling, and in order to prove it legally and issue a court order requires procedures, we hear about allegations of money being transferred to the Kurdistan region and from the region to neighboring countries, and we have spoken with the president of the region in this regard, and we must cooperate in it."
The Prime Minister confirmed, "The government has formed specialized security teams in all places, roads and ports, and sonars have been installed at the controls to detect currency smuggling," explaining, "The government is serious about measures to prevent currency smuggling, and at the same time we reassure the citizen that Iraq's financial situation is in the best case." We have a balance, revenues, a turnover, and a budget, and we have the ability to purchase any material.”
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