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[rtl]An economic expert warns of the phenomenon of "dollar panic" in Iraqi markets[/rtl]
economy , 10/17/2023 09:51 Number of readings: 141
economy , 10/17/2023 09:51 Number of readings: 141
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[rtl]Baghdad - Iraq Today:
Mustafa Hantoush, an expert in financial and banking affairs, confirmed that the decision to withdraw remittances in dinars only will cause panic towards the dollar.
Mustafa Hantoush, an expert in financial and banking affairs, said in a press interview, “The decision of the Central Bank of Iraq to prevent the withdrawal of remittances brought into the country, including salaries and remittances of any kind, in hard currency, and Withdrawing them only in dinars will cause panic among citizens towards the dollar, and will give the citizen the image that the dollar is a prohibited currency.” They are few and scarce, which will make the citizen resort to saving them, keeping them, and not spending them.”
Hantoush added, “This decision was not properly thought out, and came after a series of failed measures by the Central Bank to convince the Federal Bank that Iraq is capable of developing a program to prevent the dollar from going to some countries and others, until Sanctions began on banks, then banning cash, and even banning the dollar.” On behalf of the Iraqi citizen,” he pointed out that “solutions are still possible, such as creating a platform with the sanctioned countries, preventing smuggling, and electronic reservations for travelers through the Central Bank, and all of this will actually lead to a decline in the exchange rate without us annihilating our banking sector or the exchange sector.” Or until we ban the Iraqi citizen from the dollar.”[/rtl]
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