by Rocky Sat 27 Jul 2024, 10:44 am
MM&C 7/27/24
18 hoursThe economic researcher, Ziad Al-Hashemi, confirmed today, Friday, that replacing the central bank's governor Ali Al-Al-Alaq is not a sufficie... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
18 hours
The economic researcher, Ziad Al-Hashemi, confirmed today, Friday, that replacing the central bank's governor Ali Al-Al-Alaq is not a sufficient and effective solution to the monetary crisis suffered by the Iraqi economy, so there is a need for complete sifting and the existence of teams to save and reform the situation systematically and in the form of plans and programs, to start a new page characterized by modernity in banking work.
Al-Hashemi told News, “The issue of replacing the central bank governor Ali Al-Al-Alaq is not an adequate and effective solution to the monetary crisis suffered by the Iraqi economy, but rather the Central Bank and banking institutions need new and systematic approaches to get rid of the determinants and obstacles of the past, to start a new page characterized by modernity in banking.”
He added, “As for replacing people, it will not solve the big problem in the system and its structure, even if people with high specifications, capacity, capabilities, competencies and sufficient expertise are brought to be able to deal with the problems in the current banking environment, so there is a need for full screening and for teams to save and reform the situation inside Iraq, functional teams, teams of experts and teams from political parties supported by clear legislation and ready to enforce solutions systematically and in the form of plans and programs.”
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What may solve the problem this economist suggests is to complete the project that Al-Alaq told us still exists, effectively that is to delete the zeros from the exchange rate and then go international. The teams of experts that have experienced a revaluation of an international currency or with having studied them would likely be involved with Iraqs RI/RV that has yet to be denied to be on the table by any credible sources.
The project Al-Alaq is back at the helm of the CBI for to manage and complete was for a purpose. He didn’t get the job again as the CBI Governor for not being qualified for it.. The team he has in place now should be well sufficient enough by in getting the project completed. They have been working with the UST and USFed for years now on reforms.
There will be a completion process and time frame for it. One that few would ever know, as to when specifically. The linkage for localization of salaries with the region and Baghdad has been noted to completed today.. Fascinating timing of that! Imo ~ MM | | | |
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