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Showing results for tags 'professor of economics'.
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The Central Bank expands its steps to stop the runaway dollar Economical 10/15/2023 Baghdad: Haider Falih Al-Rubaie and Shukran Al-Fatlawi Economic affairs specialists welcomed the Central Bank’s steps aimed at undermining the dollar and limiting its continued rise, stressing that the monetary authority’s decision to open exchange offices in four local airports is sufficient to absorb the momentum on banks that sell the dollar to travelers, and to limit the rise of the green currency in the parallel market. . In a step aimed at reducing the “climbing” of the foreign currency, whose exchange rate reached 160,000 dinars per 100 dollars, the Central Bank issued a decision requiring the opening of exchange offices at the airports of Baghdad, Basra, Najaf, and Erbil, with the aim of facilitating the mechanism for travelers to obtain the dollar, but specialists Others believe that these steps are “temporary” and cannot address the imbalance from its roots, calling for the necessity of taking strict economic decisions that would put an end to what they described as the “escape” of the dollar. Economist Dr. Nabil Al-Marsoumi told “Al-Sabah”: One of the most prominent criticisms directed at monetary policy in Iraq several months ago relates to the inability to meet travelers’ requests for the dollar that the Central Bank allocated to each traveler abroad, amounting to three thousand dollars. The Al-Marsoumi expert pointed out that the difficulty of travelers obtaining dollars led some of them to sometimes spend the night at the gates of offices and banking companies, and a large portion of travelers did not receive their share in the end of the dollars allocated to them by the Central Bank, so the Central Bank’s final and final step is... By opening exchange offices in four airports, it can achieve great success if the process is implemented correctly. Al-Marsoumi believes, “If the recent Central Bank decision succeeds in providing continuous dollar cash to travelers, this will eliminate one of the most important problems that the Iraqi traveler suffers from, as well as putting an end to the smuggling of a large portion of travelers’ dollars,” noting that the issue It is not only related to location, but also to the extent of the ability of the central bank and banking companies to provide continuous, uninterrupted liquidity. In turn, the economic affairs specialist, Fouad Al-Hasani, pointed out that “the central bank is the body responsible for treating and managing exchange rates in the economy, as central banks play a decisive role in determining monetary policy and prices and regulating the monetary market, in addition to carrying out many activities to address exchange rates.” “Which includes setting the exchange rate and implementing an open market policy that enables central banks to regulate exchange markets by holding auctions or providing liquidity to the market with the aim of improving currency stability.” Al-Hassani also pointed out the ability of central banks to adjust interest rates and determine banks’ mandatory reserve requirements to influence exchange rates, as well as applying regulatory measures to monitor and control exchange activities and combat illegal operations. -
An expert comments on the new exchange rate: Iraq is the biggest loser 2023.02.07 - 19:47 Baghdad - people Professor of Economics at the University of Basra, Nabil Al-Marsoumi, commented, on Tuesday, regarding the decision to reduce the exchange rate of the dollar. Al-Marsoumi said in a post followed by “Nass” (February 7, 2023), “The exchange of roles .. In 2021, the owner of the dinar lost and the owner of the dollar won, and in 2023 the owner of the dinar won and the owner of the dollar lost, and in both, oil was the engine of change.” He added, "On Monday, Iraq was the biggest loser." And the Cabinet approved, earlier, the decision to adjust the exchange rate of the dollar by the equivalent of 1,300 dinars. The media office of the Prime Minister said in a statement, which "NAS" received a copy of, (February 7, 2023), that "the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to adjust the exchange rate of the dollar against the dinar, equivalent to 1,300 dinars per dollar."
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The release of the budget may bring bad news about the dollar. The gap between the two prices will rise Economy | yesterday, 18:36 | The release of the budget may bring bad news about the dollar. The gap between the two prices will rise » Baghdad News Agency Today (baghdadtoday.news) Baghdad Today - Baghdad Economist Nabil Al-Marsoumi confirmed on Saturday that the launch of the budget and its monthly financial allocations will put pressure on the price of the dollar, and the gap will become larger between the official and parallel price. Al-Marsoumi said in an interview with "Baghdad Today" that "we do not count on the decline in the price of the parallel dollar after the launch of the budget, but on the contrary it will increase, and this gap still exists and its goal is to finance trade with Iran." "US dollar transfers are prohibited by the electronic platform, and therefore there is pressure on the parallel price, in order to pay the dues Iran has from its commodity trade with Iraq," he said. He pointed out that "there is supposed to be a mechanism for cooperation with the United States regarding the economic blockade and preventing the entry of dollars into Iran, and all this led to the gap between the official and parallel dollar rate, and this gap is likely to rise." -
Away from the security measure.. An expert presents two "solutions" to control the price of the dollar Time: 02/19/2023 20:46:04 Read: 9,035 times {Economic: Al Furat News} The economist, Nabil Al-Marsoumi, proposed today, Sunday, two solutions to control the price of the dollar away from the security measure. Al-Marsoumi told Al-Furat News that: "Security solutions in controlling the exchange rate of the dollar widen the gap between the official and parallel rate, as it adds a risk premium and trading becomes very limited." He added, "If the government resorted to eliminating dollarization and commercial dealings in dollars and limiting it to the dinar by obliging the main importers, whose number does not exceed the fingers of one hand." And Al-Marsoumi continued, "Then they obtain two profits, the first [commercial, and from importing them at the official price] and selling the goods at the parallel price, there will be price control away from any security measure." Despite the Cabinet's approval of adjusting the exchange rate of the US dollar to be at a price of 1,300 dinars, the prices are still high, as the central Kifah Stock Exchange in Baghdad recorded 151,000 Iraqi dinars for 100 dollars this evening, while the morning prices were 149,600 Iraqi dinars for every 100 dollars. For its part, the Parliamentary Finance Committee expected the stability of the dollar exchange rate in the country during the next 3 months. From: Raghad Dahham
