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Specialist: A defect in the Iraqi economic system led to the disruption of the dollar market and central tools
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Baghdad today - Baghdad
Today, Wednesday (July 19, 2023), the expert in banking and financial affairs, Hammam Al-Shamma, attributed the disruption of the currency auction and the factors that led to the disruption of the dollar market in Iraq, to a defect in the Iraqi economic system.
Al-Shamaa told "Baghdad Today" that "the central bank law was issued by Bremer, but the defect is not in the law and not in the Iraqi banking law, but rather in the Iraqi economic system and its structure, which depends entirely on oil exports, and led to The phenomenon of buying and selling currency is invested in favor of some political parties and personalities.
And he indicated that “the central bank law guarantees the independence of the monetary authority in making its decisions, but this independence is circumvented by appointing a governor for the bank by (agency), and here the governor becomes under the command of the prime minister, and for this defect in the economic system as a whole and not the laws in force.”
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