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[size=46]The financial advisor to the Prime Minister reveals measures to stabilize the dollar exchange rates[/size]
Economy
14:28 - 2023-07-30
[You must be registered and logged in to see this image.]14:28 - 2023-07-30
Today, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, announced a movement to stabilize the dollar exchange rates, stressing the provision of soft financing operations for importers at the official exchange rate.
In a press interview, Saleh said, "Foreign trade of small traders constitutes the highest number in the import commercial market activity, and its rate may reach 60 percent of the local market's needs for imported goods."
He added, "With the aim of dismantling the monopolistic financing trade ring to finance foreign trade and the entirety of external transfer operations resulting as dangerous mediating forces that carry a lot of colored noise between the small trader and the financing of trade in foreign currency, whether in the position of international compliance or the disposal of foreign currency outside the stability controls, in addition to its danger in spreading A dangerous pricing pattern based on floating the prices of goods and services at the parallel market exchange rate, which leads to a dangerous transfer of inflation from the exchange market to the general level of prices and endless price disturbances. Therefore, the Iraqi Trade Bank works with direct openness in providing soft financing operations for small importers and at the official exchange rate outside the loop. the monopolist".
He pointed out, "This matter will lead to providing a flexible commodity supply and help to establish stability in the parallel exchange market, in addition to removing the forces of commercial monopoly from the most dangerous mediation process between small traders and the exchange market, in a way that achieves stable competitiveness in which the parallel exchange rate matches the official exchange rate." gradually".
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