Home
Specialists: The dollar crisis is economic and political
Iraq 2023/08/01
[You must be registered and logged in to see this image.]
Baghdad: Hoda Al-Azzawi
The exchange rate crisis reared its head again in the local markets after US sanctions included 14 banks that prevented them from dealing in hard currency and entering the currency auction. political and economic dimensions.
The rapporteur of the Finance Committee in the former parliament, Ahmed Al-Saffar, said in an interview with “Al-Sabah”: “The instability of the dollar exchange rate, which causes a great burden on the citizen as a result of the high prices and the erosion of his income in general, whether he is an employee or a worker or has intermittent income. It makes us think that its cause is political, economic and financial," noting that "the Iraqi economy is in the hands of politicians, meaning that politics is what drives the economy and the political blocs interfere in the process of writing and legislating public budgets and their provisions and allocations."
Al-Saffar explained that "the political class, since 2003, has not been able to set a financial and economic policy to rebuild the Iraqi economy, but they deliberately increased dependence on oil rents, and therefore there is no real Iraqi production. The local tendency to cover the needs is to import more than 95% of the country's need." This is a natural thing with the existence of oil rents in dollars, as goods and commodities are imported from regional countries.
He explained that "there is a deliberate policy that Iraq does not have a production device for goods and services and that it remains a market for the exchange of goods of regional countries in exchange for oil revenues, noting that Iraq has become an arena for international and regional political conflict."
He pointed out that "the imposition of sanctions by the US Federal Reserve and the US Treasury on 14 Iraqi banks under the pretext of transferring them to dollars to countries subject to US sanctions has a structural and economic imbalance. Iraq has always consumed from these countries and certainly it pays in dollars."
While the professor in economic affairs, Jaafar Alloush, said, in an interview with "Al-Sabah", that "the dollar crisis is an actual crisis that may exacerbate. The dollar is owned by the US and the rest of the countries own it, and the owner sets controls to deal with it, and underestimating these controls is not always possible."
While the expert on economic affairs, Nabil Jabbar Al-Tamimi, indicated to "Al-Sabah" that "what happened in recent days is a repetition of US Treasury sanctions," noting that "imposing new sanctions on Iraqi banks often generates fears that the dollar will rise again, as happened eight years ago." Months".
Al-Tamimi added, "The rumors fuel the idea of the dollar's rise without a backlash by state agencies or even political and economist analysts who have become like bearers of wood and pouring oil on the fire. So far, there is no convincing indication or a clear factor for the dollar's rise again," adding that "there is One possibility that may lead to its rise again for a short period is the behavior of punished banks by buying dollars from the markets with the trillions of dinars available to them.
[You must be registered and logged in to see this link.]
» A deputy reveals the most dangerous files facing the Sudanese government’s program
» Parliamentarian: Amending the election law needs time to pass
» The work of the committees will bring nothing but disappointment to the people... procrastination an
» Under American sponsorship, Jordanian banks swallow the Iraqi dollar
» A member of the Parliamentary Oil Committee sets the date for ending the gas import file in Iraq
» The Minister of Oil announces the end of licensing rounds and reveals the number of participating co
» The Chinese company that won the development of Al Dhafriya field: The competition in the two licens
» Political praise for the Sudanese: He has an industrial and commercial mentality
» Melancholy Molly
» utube MM&C 5/11/24 Iraqi Dinar - IQD Update - International - IraqTiming - 2024 Budget Schedule - Sp
» The reality of the American presence... Objections are rising and the Sudanese are silent
» The work is discussing with the World Bank a project related to social protection beneficiaries
» Parliamentary Finance: The government intends to send the budget schedules this week
» The Emirates tops and Iraq does not exist...the list of the richest people in the Middle East and No
» A government plan to combat poverty and include 400,000 families with health insurance
» Iraq signs a memorandum of understanding with an American company to support the energy sector
» A deficit exceeding 75 trillion, and this is the date of its arrival.. Parliament’s finances talk ab
» Kirkuk.. A bank was caught receiving remittances for ISIS from a neighboring country
» The Minister of Commerce discusses with his Lebanese counterpart procedures for accelerating the con
» To find out who is negligent or not... The Basra Council forms a committee to follow up on the heads
» Iraq signs a memorandum of understanding with “Honeywell” to support the energy sector
» The judiciary reaches the final stage in the theft of the century file
» An economic expert proposes a solution to end the Jordan National Bank's "takeover" of the currency
» utube 5/12/24 Iraqi Dinar | Citi Bank Announced New Rate Of The Iraqi Dinar | Dinar News Today 202
» Reassurance to employees: “Salaries are not affected by delays in budget schedules.”
» Al-Anbeki: The framework is determined to proceed with the election of the Speaker of Parliament
» Al-Karaawi calls for revealing the truth about the presence of American forces
» Political conflict and corruption in Anbar oust two officials
» After joining Al-Halbousi, an agreement was reached to nominate Mahmoud Al-Mashhadani for the presid
» Within a month, the Central Bank of Iraq’s sales exceeded $4 billion
» The Iraqi Parliament decides to elect its new president next Saturday
» The Interior Ministry activates mobile stations to issue the unified card for communities abroad
» Jordan stops importing oil from Iraq
» The Association of Private Banks praises the Iraqi Central Bank’s approach to establishing digital b
» Iraqi fields cling to the foreign and kick the local... 3 reasons that embarrass private companies i
» The Minister of Commerce stresses the importance of creating a state of balance in the economy and e
» Among them is weak demand for gas...an economic diagnosis of the “most important” observations on th
» Proposing a parliamentary plan to get rid of job stagnation in state departments
» Involving and integrating the private sector into the investment map for sustainable development
» Population claims in the Maysan Marshes: Our water share is not distributed fairly
» The Iraqi Parliament reveals the latest developments in the “theft of the century”
» Jordanian industry exports to Iraq record an increase in 2024
» Implementation of 85% of the southern green belt in Karbala
» The Interior Ministry completes cleansing the areas of organized crime gangs
» Immigration: The displacement file will be closed next July 30
» Transport sets a date to close the file of development road route conflicts
» Service projects are launching non-stop
» Launching the Development Investors Map 2030
» Minister of Health to the Family Physicians Association: The year 2024 is the year of primary health
» The Iraqi Car Company wins the investment in the Al-Khulaysia area on the Iraqi-Syrian border
» Oil: No company has come forward to develop the Shihabi area within the provinces of Maysan and Wasi
» The House of Representatives sets next Saturday as the date for holding a session to elect its speak
» The Kurds refuse to share security positions in Diyala, “and there is nothing wrong with partnership
» Kurdistan is a repellent environment for young people... migration is still taking place and victims
» A Kurdish-Arab conflict prevents the harvest in Kirkuk and a call for the Sudanese to intervene
» An Iranian newspaper accuses Iraq of participating in a "water plot" against Tehran
» The Minister of Immigration directs all the ministry’s departments and branches to simplify procedur
» Al-Mandalawi: Parliament attaches utmost importance to human rights laws
» Al-Sadara was surprised and announced its joining Al-Halbousi
» Parliamentary Oil: Licensing rounds will pave the way for raising oil and gas production
» Al-Saadawi and the Tunisian Foreign Minister discuss activating the Baghdad-Tunisia line
» After joining Al-Halbousi, an agreement was reached to nominate Mahmoud Al-Mashhadani for the presid
» The Minister of Commerce stresses from Manama the importance of supporting efforts made to enhance A
» Minister of Oil: Most of the licensing round projects focused on gas patches to support electrical s
» Al-Awadi: Terminating the work of the UNAMI mission came at an Iraqi request and a UN recommendation
» Kurdistan Democratic Party: Resuming the export of the region's oil in the near future
» After two years of isolation, Al-Sadr is looking for a majority that will not force him to ally with
» Middle East Eye: A booming underground trade in alcohol in Iraq after it was banned in 2023
» 4 million for each year of imprisonment... Freedom in exchange for money... A controversial new Iraq
» The livestock sector in Iraq...indicators warning of a major crisis
» “Unfair” reconstruction in Iraq: areas where machinery is crowded and others still demonstrating for
» Economic statistics: The volume of internal debt in Iraq has risen to more than 76 trillion dinars
» Saleh explains the relationship between the rise in gold and the decline of the dollar and warns of
» The Minister of Oil sponsors the signing of an agreement to develop the Tuba oil field project with
» In numbers... Basra Oil explains the importance of the Tuba field after signing a contract to develo
» Electricity: The government provides energy at subsidized prices for (4) categories
» The electricity produced in Iraq covers 65% of demand... and 15 thousand megawatts is a “deficit”
» Parliamentary services: Government interest in Baghdad will make it one of the most beautiful capita
» Basra Council emphasizes work to qualify young people and place them in the labor market
» Politician: Al-Kadhimi was recommending that Plasschaert write “negative” reports about Iraq
» Trade launches operations to lift the ban on the ration card next to Rusafa
» utube 5/9/24 MM&C 0:02 / 46:46 PM - Al-Sudani - Golden Opportunity - Private Sector - Contra
» Bahr Al-Ulum calls for legislating the renewable energy law and localizing the solar panel industry
» In numbers: the rise in internal debt in Iraq
» Jordan demands that Iraq continue to export oil for another three months
» Iraq is the largest producer.. OPEC+ is pumping higher than scheduled and in anticipation of the Jun
» Close to the coordination framework: There is no intention to change the internal regulations of Par
» Central Bank sales exceed $274 million today
» But the representative of the exchange companies is pessimistic... Why did the dollar fall?... The C
» Jordan addresses Iraq to extend a memorandum of understanding to purchase oil
» Bribes increased from 3,000 to 50,000 dollars.. What is the condition of alcohol in Iraq after the p
» Presence movement: Sunnis and Kurds while the Americans remain in Iraq
» A deputy reveals the contents of the first water strategy in Iraq
» Soon...the second reading of the proposed red card law
» The discovery of 10 new oil and gas fields in the Anbar desert
» A bloc announces to “Al-Ma’louma” the date of the parliamentary speaker’s election session
» Parliamentary Finance explains the mechanism for amending the retirement law
» Sovereignty accuses Al-Halbousi of obstructing the election of a Speaker of Parliament