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Showing results for tags 'similar to the egyptian experience'.
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Iraq lacks local productivity.. The decision of the dollar exchange rate against the dinar in stock exchange transactions 209 Economy 2022/02/26 17:39 Baghdad today - Baghdad Today, Saturday, the economic expert, Sabah Alo, called on the government to take a decision to float the Iraqi dinar, similar to the Egyptian experience of floating the pound. Alo said in a statement to (Baghdad Today), that "it is difficult to restore the price of the dollar during the next stage because this matter needs a political decision to be agreed upon by the blocs," noting that "the political forces did not agree to form the government, so how will they agree to restore the price of the dollar?" Exchange". He added, "It is better that a decision be taken to float the Iraqi dinar and stop selling the currency at auction and the Central Bank of Iraq, and the demand for the dollar will be through non-governmental banks and banks, as this will give this matter a great opportunity, whether it decreases or rises, and the poor classes will bear the price imbalance for a period ranging from Between 3 to 4 months, the markets will witness stability in the value of the dinar, and this is what has been done in the Egyptian Republic.” Alo added, "The core issue to support the dinar is the presence of local productivity, and this is what Iraq lacks. There is nothing but oil revenues to support the dinar, and since oil prices are not fixed, this leads to a change in the value of the dinar." He pointed out, "There should be a sovereign fund in which at least 3 to 5% of the revenues are placed, especially in these circumstances in which the price of oil is rising."
