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Parliament Finance advises raising exchange rates again... What about oil revenues?
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Economy News - Baghdad
Member of the Parliamentary Finance Committee, Adnan Al-Zarfi, stressed today, Friday, the necessity of suspending the dollar exchange rates in Iraqi markets, while indicating that America is pressuring Iraq to reform the banking system.
Al-Zarfi said, in an interview followed by Al-Iqtisad News, that “the exchange rate of the dollar against the Iraqi dinar must be more than 1,500 dinars in order to create real economic development,” indicating that “the current exchange rate allows for the weakening of the local industry.”
He added, "The revenues from Iraqi oil exports go to the US Federal Bank in two accounts," pointing out that "the US Federal Bank noticed that there were different numbers for Iraq's imports from customs and the central bank, which led to a change in the trade financing mechanism."
The member of the Finance Committee added, “Failure to pay taxes and customs duties is one of the most important indicators Americans have about the economy.”
Al-Zorfi stated, “The Al-Kadhimi government neglected to establish the dollar platform despite America’s demand to do so,” noting that “America is pressuring Iraq to reform the banking system, and within 5 years we will eliminate monetary dealing.”
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Added 04/19/2024 - 1:31 PM https://economy-news.net/content.php?id=42617[/size]
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Economy News - Baghdad
Member of the Parliamentary Finance Committee, Adnan Al-Zarfi, stressed today, Friday, the necessity of suspending the dollar exchange rates in Iraqi markets, while indicating that America is pressuring Iraq to reform the banking system.
Al-Zarfi said, in an interview followed by Al-Iqtisad News, that “the exchange rate of the dollar against the Iraqi dinar must be more than 1,500 dinars in order to create real economic development,” indicating that “the current exchange rate allows for the weakening of the local industry.”
He added, "The revenues from Iraqi oil exports go to the US Federal Bank in two accounts," pointing out that "the US Federal Bank noticed that there were different numbers for Iraq's imports from customs and the central bank, which led to a change in the trade financing mechanism."
The member of the Finance Committee added, “Failure to pay taxes and customs duties is one of the most important indicators Americans have about the economy.”
Al-Zorfi stated, “The Al-Kadhimi government neglected to establish the dollar platform despite America’s demand to do so,” noting that “America is pressuring Iraq to reform the banking system, and within 5 years we will eliminate monetary dealing.”
[/size]
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112 views
Added 04/19/2024 - 1:31 PM https://economy-news.net/content.php?id=42617[/size]
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