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Economist: Entering Iraq With The Swift Platform Led To Market Stability And Prevented Currency Smuggling
04/25/2023
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04/25/2023
1832
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Earth News / Economist Alaa Al-Fahd said today, Tuesday, that Iraq's entry into the SWIFT platform led to market stability and prevented currency smuggling abroad.
Al-Fahd said, in an interview with Earth News, that "the monetary policy in Iraq seeks to create stability in the exchange rates and currencies market, and this has a great impact on reducing cases of corruption and currency smuggling abroad."
He added, "Iraq's entry into the list of the Swift platform for external transfers has a positive impact on Iraq, which has led to market stability on the one hand and preventing smuggling on the other hand."
And that "this will reflect positively on the development of the Iraqi economy and the state of recovery expected as a result of the application of this system, which will limit cases of smuggling of the dollar currency to other countries."
He continued, "The currencies were up to three countries whose trade depended directly on Iraq, and the application of this system will limit smuggling cases, and this will reflect positively on the stability of market prices in the future in Iraq."
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Al-Fahd said, in an interview with Earth News, that "the monetary policy in Iraq seeks to create stability in the exchange rates and currencies market, and this has a great impact on reducing cases of corruption and currency smuggling abroad."
He added, "Iraq's entry into the list of the Swift platform for external transfers has a positive impact on Iraq, which has led to market stability on the one hand and preventing smuggling on the other hand."
And that "this will reflect positively on the development of the Iraqi economy and the state of recovery expected as a result of the application of this system, which will limit cases of smuggling of the dollar currency to other countries."
He continued, "The currencies were up to three countries whose trade depended directly on Iraq, and the application of this system will limit smuggling cases, and this will reflect positively on the stability of market prices in the future in Iraq."
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