yota691 Posted September 26, 2020 Report Share Posted September 26, 2020 KRG FINANCE AND ECONOMY RUNS FIRST CURRENCY EXCHANGE: SOURCE (KRG) Finance and Economy Ministry building in Erbil, Kurdistan Region(File) 2020-09-24 1060 View SULAIMANI — After announcing plans to do so earlier this month, the Kurdistan Regional Government’s (KRG) Finance and Economy Ministry ran a currency exchange on Wednesday (September 23) in Erbil city. A source told NRT Digital Media that $35 million ($41.9 billion Iraqi dinars) was exchanged. “The [finance and economy ministry] received 122,800 Iraqi dinars for each $100,” the source said who spoke on condition of anonymity because they were not authorized to speak to the media, noting that the public treasury took in 600 million Iraqi dinars ($501,000) as a result. “From now on, if any money that is the government’s property and enters the Region, including oil money, it will be exchanged like that,” the source added. On September 19, the ministry said it would exert greater control over the exchange of US dollars and Iraqi dinars in the Kurdistan Region, taking over responsibility for currency auctions from the Central Bank of Iraq. The move comes as part of an effort by the KRG to capture more internally-generated wealth through stricter enforcement of taxation and fee collection. The government is facing a severe budget shortfall and is unable to pay its full public sector wage bill amid low oil prices and budget dispute with Baghdad. (NRT Digital Media) 7 Quote Link to comment Share on other sites More sharing options...
dinarbeleiver Posted September 26, 2020 Report Share Posted September 26, 2020 I’m wondering why people have missed this but From now on, if any money that is the government’s property and enters the Region, including oil money, it will be exchanged like that,” the source added Is the Dinar being accepted to pay for oil ? 1 2 Quote Link to comment Share on other sites More sharing options...
stanleypower Posted September 26, 2020 Report Share Posted September 26, 2020 4 Quote Link to comment Share on other sites More sharing options...
gregp Posted September 27, 2020 Report Share Posted September 27, 2020 Now the Kurds get their piece of the corrupt pie. Thanks. Quote Link to comment Share on other sites More sharing options...
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