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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Al-Kadhimi: Iraq’s dealing with a basket of currencies reduces the dominance of the dollar and the g

    Rocky
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    • Post n°1

    Al-Kadhimi: Iraq’s dealing with a basket of currencies reduces the dominance of the dollar and the g Empty Al-Kadhimi: Iraq’s dealing with a basket of currencies reduces the dominance of the dollar and the g

    Post by Rocky Sat 30 Dec 2023, 2:00 pm

    [size=45][size=41]Al-Kadhimi: Iraq’s dealing with a basket of currencies reduces the dominance of the dollar and the government in an economic battle[/size]
     two hours ago
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    A member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, said that Iraq’s dealing with a basket of currencies “reduces the dominance of the dollar,” while hinting at challenging the government with an economic battle.
    Al-Kazemi said: In a press interview seen by “Taqaddam,” he said, “The committee hosted the Governor of the Central Bank of Iraq and his deputy for several sessions, and the issue of the dollar was discussed, and the package of measures taken by him, the most recent of which was the import of cash blocks of foreign currencies under certain conditions, in addition to the recent measures and the consensus achieved with the US Federal Reserve by agreeing to deal with... The UAE dirham, the euro, the Chinese yuan, and the Indian rupee all contributed to reducing the exchange rate.”
    He added, “Some banks have begun importing dollars, but they are not enough for the black market, and the central bank’s sales are large, and we are surprised that they are not sufficient for trade.”
    Al-Kadhimi pointed out, “The Finance Committee communicated with the Central Bank and followed up on it and presented proposals, some of which were taken up and others are still in the bank’s corridors, including the industrial initiative that will gradually work on some industries by making their production internal to reduce the demand for the dollar.”
    He continued, “Controlling customs and border crossings contributes to the stability of the internal currency exchange, and the Central Bank, in cooperation with Parliamentary Finance, seeks to facilitate the work of Iraqi merchants,” stressing “the necessity of the ad hoc committees in the House of Representatives starting their work, which is the responsibility of the committee heads.”
    Al-Kadhimi added, “The state of competition in the local market forces the merchant to resort to the official price, and the regular distribution of rations has contributed to the stability of food prices,” calling on the Sudanese government to “address the Ministry of Commerce radically regarding the quality of ration items, which affects the lives of citizens.”
    He went on to say, “There must be political solidarity and national resolve. To restore some industries and agriculture to advance the local market, imports must be controlled in order to strengthen Iraqi industry.”
    Al-Kadhimi pointed to “the reasons for the US Federal Reserve’s policy against Iraq as a means of pressuring the Iraqi government, so the Central Bank clarified these matters and demanded that the Federal Reserve explain the reason for rejecting transfers without justification.”
    He explained, “Regulating financial transactions and foreign trade strengthens Iraq’s position in financial policy, and Iraq must deal with a basket of currencies in addition to the dollar gradually so that it is not governed by federal instructions in addition to reducing imports.”
    Al-Kadhimi concluded by saying, “The government faces a real battle to address the economic situation, and the political blocs are required to strongly support this trend.”
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