The Parliamentary Economic Committee meeting begins, in the presence of the Central Bank Governor, to discuss the rise of the dollar

[yota691]

The Parliamentary Economic Committee meeting begins, in the presence of the Central Bank Governor, to discuss the rise of the dollar

Policy

2020-12-17 | 07:24

 

2,193 Views

On Thursday, the Parliamentary Economic and Investment Committee held a meeting in the presence of the Central Bank Governor, to discuss the reasons for the high dollar price.

It is also scheduled that the Parliamentary Finance Committee will hold an emergency meeting this afternoon to discuss the reasons for the high exchange rate of the dollar, and to discuss the leaked draft budget law for 2021.

The main stock market and local markets in Iraq are witnessing a significant increase in the exchange rates of the dollar against the Iraqi dinar. Earlier in the day, the Kifah Stock Exchange recorded 137,000 dinars against 100 US dollars.

 

 

While the selling price in the local market was 138,000 dinars per 100 dollars, and the purchase price was 136,000 dinars per 100 dollars.

Alsumaria News obtained earlier today, Thursday, the draft general budget bill for 2021, which included deductions from employee salaries, and the imposition of taxes on several sectors.

[yota691]

parliamentary finance holds an emergency meeting this afternoon to discuss the reasons for the high exchange rate of the dollar, and to discuss the leaked draft budget law for 2021

Author: Ahad6 On 12/17/2020 - 1:15 PM  16

The Parliamentary Finance Committee will hold an emergency meeting this afternoon to discuss the reasons for the high exchange rate of the dollar, and to discuss the leaked draft budget law for 2021.

[yota691]

Parliamentary Finance: The budget is still in the cabinet, and we have not received an official copy

 

Iraqi Parliament. "Internet"

money and business Economy News - Baghdad The Parliamentary Finance Committee confirmed, on Thursday, that the draft budget law is still in the Council of Ministers, while noting that the leaked version of the budget is "unofficial."   Committee member Hoshyar Abdullah said, in a statement, seen by Al-Iktissad News, that "this leaked version of the 2021 budget is unofficial and not approved."   He added, "The budget is still in the cabinet that has not been discussed, and in the Finance Committee and Parliament we have not officially received any copy of it," explaining that "these leaks are part of the government's confusion and it bears it and bears the confusion of the market, the currency price and the economy."

Number of observations 59   Date of addendum 12/17/2020

[yota691]

Parliamentary Finance holds an emergency meeting to discuss the reasons for the rise in the dollar and the draft budget

•  Time: 12/17/2020 12:41:58
•  
•  Read: 3,666 times

  

{Baghdad: Al Furat News} The Finance Committee will hold an emergency meeting this afternoon to discuss the reasons for the high exchange rate of the dollar, and to discuss the leaked draft of the 2021 budget law.

The exchange rate of the dollar had risen again, and it reached 1340 dinars in the Central Kifah Stock Exchange in Baghdad against the dollar.
Sources indicate that prices are not fixed.

In addition, {Al Furat News} published a draft of the federal financial budget bill for 2021.
The budget included a surprising price in the exchange of the dollar, as the government proposed to install it at 1450 dinars per dollar.
It also included reducing the allocations granted to state employees.
According to the draft, the estimated revenues from exporting crude oil will be calculated on the basis of the rate of (42) dollars per barrel.
The draft budget for the year 2021 includes imposing a tax on gasoline and aviation fuel at a rate of 20%, and the price of a liter of gasoline will be 540 dinars instead of 450 dinars, and the price of kerosene increased by 15%.
A 10% sales tax will also be imposed on all commercial stores, cigarettes, cars, alcoholic beverages, and barber shops for men and women.

 

Hussein Hatem

[yota691]

Representative economy meets with the governor of the central bank

•  Time: 12/17/2020 14:24:12
•  
•  Read: 1,898 times

  

{Baghdad: Al Furat News} The Parliamentary Economic and Investment Committee held a meeting with the Governor of the Central Bank of Iraq, Mustafa Ghaleb.

The meeting coincided with the significant rise in the dollar exchange rate, which exceeded 1,300 dinars.
It is noteworthy that the governor is facing interrogation in the House of Representatives at the request of the questioned deputy, head of the Parliamentary Wisdom Bloc, Faleh Al-Sari.
Ammar Al-Masoudi

[yota691]

Parliamentary Finance comments on the leakage of the draft budget: it caused great confusion in the currency market

 2020/12/17

 

 134

 

 

Baghdad / Al-Mawred News

 

On Thursday, the Deputy Chairman of the Parliamentary Finance Committee, Muthanna Al-Samarrai, described those responsible for "leaking" the draft budget as "incompetent to protect the country's supreme interests," while the "fabricators" of the crisis threatened a "decisive" parliamentary position.

Al-Samarrai said in a tweet on Twitter, "Whoever did not preserve the privacy of the draft budget from the government ministers and caused great confusion in the currency market through its leakage of it, he cannot be qualified to protect the country's higher interests or solve the country's problems."

Al-Samarrai added: "The Finance Committee will have a decisive position on the fabricated crisis and those behind it."

[trident]

17 minutes ago, yota691 said:

"Whoever did not preserve the privacy of the draft budget from the government ministers and caused great confusion in the currency market through its leakage of it, he cannot be qualified to protect the country's higher interests or solve the country's problems."

more smoke and mirrors ... imo

[Jaygo]

15 minutes ago, trident said:

more smoke and mirrors ... imo

Yep. Kuwait played the same game before they revalued. 

[yota691]

Representative Economy: The start of the meeting with the Governor of the Central Bank

 2020/12/17

 

 865

 

Baghdad / Al-Mawred News

Today, Thursday, the Parliamentary Economic and Investment Committee began its meeting with the governor of the Central Bank.

The Media Department of the House of Representatives stated, in a statement that Al-Mawred News received a copy of, that "the Parliamentary Economic and Investment Committee held a meeting today with the Governor of the Central Bank."

It is scheduled to discuss the recent rise in the price of the dollar in the Iraqi market .

 

[6ly410]

 

12/17/2020 17:24

The Central Bank is preparing for measures to achieve a balance between the dinar and the dollar

https://almasalah.com/ar/news/202611/البنك-المركزي-يستعد-لإجراءات-تحقق-توازنا-بين-الدينار-والدولار

 

Baghdad / Obelisk: The Finance Committee hosted, on Thursday, December 17, 2020, the Governor of the Central Bank, Mustafa Ghaleb Makhaif, to discuss the economic crisis and the implications of the high exchange rate of hard currency on the Iraqi market situation.

During the hosting, which was held at its headquarters, the committee focused on ways to confront the negative repercussions of the increase in the exchange rate on citizens, especially the vulnerable and poor classes, as well as the measures that the Central Bank will follow towards banking companies to deter the weak from exploiting this situation.

The committee called on the government to carry out rapid reforms to protect the vulnerable classes and those covered by the social welfare network and workers in the private sector, confront inflation and provide the necessary foodstuffs through the ration card.

The governor of the Central Bank provided an explanation on the reasons for the high exchange rate, stressing that the bank is preparing to launch a package of measures that will achieve a shifting balance in the exchange rate for the year 2021, such as launching an initiative of 3 trillion to support low-income people, doubling the hard currency supply in the market, and increasing interest rates. On the Iraqi currency deposited in banks.

Follow the obelisk 

 

 

[6ly410]

[6ly410]

 

Central Bank: We are preparing to launch a package of measures that will achieve a balance in the exchange rate

 

 

2020-12-17 | 11:17

https://www.alsumaria.tv/news/اقتصاد/367250/البنك-المركزي-نستعد-لاطلاق-حزمة-من-الاجراءات-التي

6,222 Views

Central Bank Governor Mustafa Ghaleb Makheif announced, Thursday, that the bank is ready to launch a package of measures that will achieve a balance in the exchange rate.

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The Parliamentary Finance Committee said in a statement, that it "hosted, headed by MP Haitham Al-Jubouri, and the presence of the members today, Thursday, was the Governor of the Central Bank, Mustafa Ghaleb, to discuss the economic crisis and the implications of the high exchange rate of hard currency on the Iraqi market situation."

 

The statement added that "the committee focused during the hosting, which was held at its headquarters, on ways to confront the negative repercussions of increasing the exchange rate on citizens, particularly the vulnerable and poor classes, as well as the measures that the Central Bank will follow towards banking companies to deter the weak people from exploiting this situation."

The committee called on the government to "carry out rapid reforms to protect the vulnerable classes and those covered by the social welfare network and workers in the private sector, confront inflation and provide the necessary foodstuffs through the ration card."

 

The committee’s statement pointed out that “the governor of the Central Bank provided an explanation on the reasons for the high exchange rate,” stressing that “the bank is preparing to launch a package of measures that will achieve a comfortable balance in the exchange rate for the year 2021, such as launching an initiative with an amount of 3 trillion to support low-income people, and double saving Hard currency in the market, and an increase in interest rates on the Iraqi currency deposited in banks.

[6ly410]

 

solutions from the Iraqi Central Bank to stop the crisis of the high exchange rate of the dollar

2020-12-17

https://yesiraq.com/3-حلول-من-البنك-المركزي-لإيقاف-ازمة-ارتف/

Yes Iraq - Baghdad

Today, Thursday, the Finance Committee in the Iraqi Council of Representatives discussed with the Governor of the Central Bank of Iraq ways to confront the repercussions of increasing the exchange rate of the dollar, and while the committee called on the government to protect the "vulnerable classes" in Iraqi society, the bank governor presented an explanation on the reasons for the high exchange rate the currency.

A statement by the Media Department in the House of Representatives stated; The Financial Committee, headed by MP Haitham Al-Jubouri, and in the presence of the members, hosted, on Thursday, the Governor of the Central Bank, Mustafa Ghaleb Makhif, to discuss the economic crisis and the implications of the high exchange rate of hard currency on the Iraqi market situation.

The statement added that the committee focused during the hosting, which was held at its headquarters, on ways to confront the negative repercussions of increasing the exchange rate on citizens, especially the vulnerable and poor classes, as well as the measures that the Central Bank will follow towards banking companies to deter the weak people from exploiting this situation.

According to the statement, the committee called on the government to carry out rapid reforms to protect the vulnerable classes, those covered by the social care network and workers in the private sector, confront inflation and provide the necessary foodstuffs through the ration card.

On his part; The Governor of the Central Bank provided an explanation on the reasons for the high exchange rate, stressing that the bank is preparing to launch a package of measures that will achieve a shifting balance in the exchange rate for the year 2021, such as launching an initiative of 3 trillion to support low-income people, doubling the hard currency supply in the market, and increasing interest rates. On the Iraqi currency deposited in banks, according to the statement.

In the same context; The Parliamentary Economic and Investment Committee, headed by Representative Ahmed Salim Al-Kinani, and its members attended, on Thursday, Mustafa Ghalib, Governor of the Central Bank.

According to a statement issued by the committee; The meeting discussed the central bank’s work on the window for selling the currency and the instability of the dollar exchange rate, as well as the central bank’s monetary policy plan.

The statement indicated that the governor of the central bank gave a detailed explanation of the work of the central bank and the sale of currency through the single window.

The statement quoted Committee Chairman Ahmed Salim Al-Kinani as saying: The committee is working on preparing a detailed report on the work of the central bank and how to control the window of currency sale through practical procedures for progress to the central bank, monitoring imports and excluding false imports, calling for accountability for violating and lagging banks and imposing financial penalties on them

 

[6ly410]

The Financial Committee is discussing with the Governor of the Central Bank to increase the currency exchange rate

Thursday, 17 December 2020 6:05 PM

 https://nnciraq.com/45764/

Classification:  Iraqi

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Baghdad / National News Center -

Official statement: The committee focused during the hosting on the means to confront the negative repercussions of the increase in the exchange rate on citizens, especially the vulnerable and poor classes, as well as the measures that the Central Bank will follow towards banking companies

The Finance Committee calls on the government to carry out rapid reforms to protect the vulnerable classes and those covered by the social welfare network and workers in the private sector, confront inflation and provide the necessary foodstuffs through the ration card.

Governor of the Central Bank provides an explanation on the reasons for the high exchange rate

Central Bank Governor: We are ready to launch a package of measures that will achieve a displacement balance in the exchange rate for the year 2021, such as launching an initiative in the amount of 3 trillion to support low-income people, doubling the provision of hard currency in the market, and increasing interest rates on the Iraqi currency deposited in banks

[6ly410]

Central Bank: We are preparing to launch a package of measures that will achieve a balance in the exchange rate

 

Banks

https://economy-news.net/content.php?id=23186

Economy News _ Baghdad Central Bank Governor Mustafa Ghaleb Makheif announced, Thursday, that the bank is ready to launch a package of measures that will achieve a balance in the exchange rate. The Parliamentary Finance Committee said in a statement received by "Al-Iqtisad News", that it "hosted the Governor of the Central Bank, Mustafa Ghaleb, with the attendance of the members today, Thursday, to discuss the economic crisis and the implications of the high exchange rate of hard currency on the Iraqi market situation. The statement added that "the committee focused during the hosting, which was held at its headquarters, on ways to confront the negative repercussions of increasing the exchange rate on citizens, particularly the vulnerable and poor classes, as well as the measures that the Central Bank will follow towards banking companies to deter the weak people from exploiting this situation." The committee called on the government to "carry out rapid reforms to protect the vulnerable classes and those covered by the social welfare network and workers in the private sector, confront inflation and provide the necessary foodstuffs through the ration card."   For his part, the Governor of the Central Bank said that the bank “is ready to launch a package of measures that will achieve a shifting balance in the exchange rate for the year 2021, such as launching an initiative of $ 3 trillion to support low-income people, doubling the hard currency supply in the market, and increasing interest rates on the Iraqi currency deposited in banks. “.

Number of observations 94   Date of addendum 12/17/2020

 

[6ly410]

Economy news

Statement after the Parliamentary Finance meeting and the Central Bank Governor regarding dollar rates (document)

Posted 4 hours ago

https://iraqakhbar.com/2810896

News source / Alsumaria channel

News source / Alsumaria channel

On Thursday, the Parliamentary Finance Committee issued a statement after its meeting in the presence of the Governor of the Central Bank, Mustafa Ghaleb, to discuss the implications of the high exchange rate of hard currency on the Iraqi market.

[6ly410]

Central Bank Governor: We will double the availability of hard currency in the market during 2021

18:06 - 12/17/2020

https://www.almaalomah.com/2020/12/17/510660/

 

The information / Baghdad ...

The Governor of the Central Bank, Mustafa Ghalib, announced, on Thursday, that it will work to double the provision of hard currency in the market during 2021.

The Parliamentary Finance Committee said, in a statement received by the information, that “discussions were held with the governor of the Central Bank regarding an increase in the currency exchange rate,” indicating that it “focused during the hosting on ways to confront the negative repercussions of the increase in the exchange rate on citizens, particularly the vulnerable and poor classes, as well as The procedures that the central bank will follow towards banking companies.

The government called for "rapid reforms to protect the vulnerable classes and those covered by the social welfare network and workers in the private sector, confront inflation and provide the necessary foodstuffs through the ration card."

For his part, the Governor of the Central Bank said that the bank “is ready to launch a package of measures that will achieve a shifting balance in the exchange rate for the year 2021, such as launching an initiative of $ 3 trillion to support low-income people, doubling the hard currency supply in the market, and increasing interest rates on the Iraqi currency deposited in banks. “.

A member of the Parliamentary Finance Committee, Abd al-Hadi al-Saadawi, confirmed in a previous statement to "the information", that the rise in the dollar exchange was not according to a governmental approach and an economic policy, but rather as a result of confusion in the management of the Central Bank. Ended / 25 h

[6ly410]

Representative economy accuses political parties of raising the selling price of the dollar

18:58 - 12/17/2020

https://www.almaalomah.com/2020/12/17/510669/

 

Information / Special ...

On Thursday, the Parliamentary Economic Committee attributed the reason for the high selling price of the dollar in the markets to the interventions of political parties in the currency auction.

Committee member Nada Shaker said in a statement to "the information", that "speculative companies led by political parties are behind the increase in the sale of the dollar in the market," noting that "the increase in the sale of the dollar is an intentional matter and political parties stand behind it."

She added that "the House of Representatives began collecting the signatures of Parliament to question the governor of the Central Bank," indicating that "the interrogation aims to find out the reasons for the rise in the dollar and hold the negligent accountable."

Last Tuesday, the Parliamentary Finance Committee attributed the high exchange rate of the dollar in the markets to the floundering policy of the Central Bank.

The dollar exchange rate for the past few days witnessed an unprecedented rise, as the exchange rate reached more than 131 thousand dinars against 100 dollars. Ended 25 W

[6ly410]

Iraq news now

The exchange rate turmoil angered the Ministry of Finance .. This is how the dinar fell against the dollar

Posted 3 hours ago

https://iraqakhbar.com/2811035

News source / Baghdad today

News source / Baghdad today

Baghdad today - Baghdad 

Today, Thursday, the Iraqi markets witnessed a state of instability, after the price of the dollar jumped against the Iraqi dinar to an unprecedented level over the past few years before returning to decline.

Budget leakage

The turmoil of the Iraqi dinar exchange rates against the dollar began following the leak of a preliminary draft, for the 2021 budget that proposed a new exchange rate for the dollar that amounted to 1,450 dinars, which pushed the Iraqi dinar exchange rate up to 1380 dinars to the dollar in Baghdad exchange and a number of provinces.

The draft budget included a table of revenues, expenditures, and the expected deficit in the initial version of the Federal Budget Law for 2021.

According to the leaks, the expected revenues in the 2021 budget, within the initial version, amounted to more than 91 trillion dinars, while the total expenditures expected, in the 2021 budget, amounted to 150 trillion dinars, while the deficit reached more than 58 trillion dinars.

Also, according to the initial version, the government may raise the price of the dollar in the central bank to 145 thousand dinars per 100 dollars.

Following the leaks of the initial budget draft and after government and parliamentary assurances that it is not final and subject to modification, the exchange rate of the dollar decreased to reach in the Al-Kifah Stock Exchange in Baghdad to 132 thousand dinars for every 100 dollars, and in Basra reached 130 thousand dinars for every 100 dollars, and in the governorates of Dhi Qar , Maysan, Muthanna, Wasit, Diwaniyah, Najaf, Karbala, Babylon 132,600 for every $ 100.

Expected effects

A member of the Parliamentary Economy Committee, Representative Nada Shaker, talked about the impact of raising the dollar’s exchange rate on employee salaries, while describing the rise in the exchange rate of the dollar against the dinar as “a plunder of the Iraqi people,” according to her saying.

Shaker said in an interview with (Baghdad Today), that she is "surprised by the silence of the Presidency of Parliament on what is going on in the economy file, especially the recent high exchange rates of the dollar and its negative repercussions on ordinary citizens, because all food prices will rise."

She added that "the recent rise in the exchange rate of the dollar and the fall of the Iraqi dinar have made fantastic profits for some banks," stressing that "the state does not have any authority over the markets that will be subject to speculation by influential forces that are important to the general situation."

A member of the Parliamentary Economic Committee indicated that "raising the dollar exchange rate will lead to a catastrophic effect in reducing the value of employees' salaries by a third, or 33 percent."

"According to our experience in the banking sector for more than 30 years, the exchange rate in the local market will not return to the barrier of 1180 or 1190 dinars against one dollar," banking expert Abdul-Hussein Al-Mandheri said in a televised statement.

He added that "the exchange rate may stabilize again up to 1210 or 1220 dinars against one dollar," indicating that "the central bank pumps cash from the dollar into the market and through the currency auction from the hard currency reserves it has."

He pointed out, "On the other hand, there is information about discussions with the International Monetary Fund to reduce the value of the dinar against the dollar, and there may be a green light from the bank to adjust the exchange rate, and we believe that the proposals for reducing it are the ones that caused the recent jump in the price of the dollar against the dinar."

The initial version of the draft federal budget bill for the year 2021 included determining the exchange rate of the dollar on the basis of 1450, equivalent to 145 thousand per 100 dollars, and restricting all actually realized revenues as final revenues to the state treasury account.

The draft law also included reducing all allocations granted to employees of all government departments that are centrally and self-financed, according to the percentages set against each of them and granted to them by virtue of effective laws and decisions of the Council of Ministers.

The fiscal deficit in the budget reached (58260763114) one thousand dinars (fifty-eight trillion two hundred sixty billion seven hundred and sixty-three million one hundred and fourteen thousand dinars), and in the case of excluding all arrears, indebtedness, and foreign and domestic loans that will finance investment projects amounting to (23229017817) one thousand dinars (three Twenty trillion two hundred twenty-nine billion and seventeen million eight hundred and seventeen thousand dinars).

The indebtedness represented by the internal and external debt installments reached (14761959590) one thousand dinars (fourteen trillion seven hundred and sixty-one billion nine hundred and fifty-nine million five hundred and ninety thousand dinars).

urgent meeting

In an emergency meeting, the Parliamentary Finance Committee discussed with the governor of the Central Bank the recent rise in the dollar exchange rate.

The media department stated, in a statement received (Baghdad Today), that “Parliamentary Finance hosted the Governor of the Central Bank, Mustafa Ghaleb, scary, to discuss the economic crisis and the implications of the high exchange rate of hard currency on the Iraqi market situation.”

The committee focused during the hosting, which was held at its headquarters, on "ways to confront the negative repercussions of the increase in the exchange rate on citizens, especially the vulnerable and poor classes, as well as the measures that the Central Bank will follow towards banking companies to deter the weak people from exploiting this situation."

The committee called on the government to "carry out rapid reforms to protect the vulnerable classes and those covered by the social welfare network and workers in the private sector, confront inflation and provide the necessary foodstuffs through the ration card."

According to the statement, the governor of the Central Bank provided "an explanation regarding the reasons for the high exchange rate," stressing that the bank is preparing "to launch a package of measures that will achieve a shifting balance in the exchange rate for the year 2021, such as launching an initiative in the amount of 3 trillion to support low-income people, and doubling the hard currency savings in Market, and increasing interest rates on Iraqi currency deposited in banks.

The Finance Ministry is furious

Today, Thursday, the Ministry of Finance expressed its "resentment and deep regret" for the unauthorized publication of the draft budget for 2021.

In a statement received (Baghdad Today) a copy of it, the ministry said, “Budget preparation is a complex technical process that includes many ministries, government institutions and international agencies concerned with the budget over a long period of time and cannot be fully understood without referring to the data, policies and strategies that are based on it, including Government White Paper ”.

She added that "launching it to the media prematurely is an irresponsible act to a large extent, and this may precede the ability of ministers to comment impartially on the draft budget and amend it at a special budget session scheduled to be held next Saturday."

The ministry requested "not to pay attention to the exciting statements related to the budget that may arise during the next two days."

And she continued, "The Council of Ministers will discuss the budget in detail, which is the appropriate place to present its recommendations regarding it." Then the budget, after its approval by the Council of Ministers, is sent to the House of Representatives, ”adding that“ this is the correct approach and framework for discussion and deliberation regarding the budget, not social media, which may be full of inaccurate news. ”

And bank experts' expectations indicate that the exchange rate of the dollar against the Iraqi dinar may return to its previous level in the event that measures are taken to control the market

[yota691]

 

The Central Bank is preparing for measures to achieve a balance between the dinar and the dollar

[yota691]

Parliamentary Finance: The leakage of the draft budget was intentional, and we will not allow its current form to be passed

•  Time: 12/17/2020 20:59:14
•  
•  Read: 5,590 times

  

{Baghdad: Al Furat News} The Parliamentary Finance Committee promised that the draft budget was leaked "intentional", while it announced its refusal to pass it in its current form.

Committee member Naji Al-Saeedi said in a press statement that the expectation factor played a role in the rise in the dollar’s prices against the Iraqi dinar, pointing to “addressing the high exchange rates of the dollar in the next two days.
” He added, “We have not received a copy of the 2021 draft budget, and if the leak is a leak, it is a leak. It is real to create confusion in the currency market and for banks to reap more profits. ”Al-
Saidi continued,“ It also indicates a defect in the management of the Council of Ministers, ”declaring,“ the committee’s amendment and deletion and the failure to pass the draft in this way because it is a blow to the poor and the vulnerable. ”
He revealed at the conclusion of his statement,“ We will form. Committee immediately after approving the budget for review and prepare a formula appropriate to the current circumstances. "
it is said that after leaking a draft budget for fiscal 2021 , the dollar exchange rate rose in the domestic market frantically where he exceeded the 1330 dinars.
Wafa Fatlawi

[yota691]

The Iraqi Central Committee intends to launch a package of measures to achieve a balance in the exchange rate

The Central Bank of Iraq

 December 17, 2020 10:16 PM

Mubasher: The Governor of the Central Bank of Iraq revealed the willingness to launch a package of measures that will achieve a balance in the exchange rate

 

The Information Department of the Iraqi Council of Representatives said in a statement received by the Iraqi News Agency, "INA", today, Thursday, that the Finance Committee hosted Mustafa Ghaleb Mkhaif, Governor of the Central Bank, to discuss the economic crisis and the repercussions of the high exchange rate of hard currency on the Iraqi market situation. 

Ghaleb Makhif stressed that the bank is preparing to launch a package of measures that will achieve a balance in the exchange rate in 2021, such as launching an initiative worth 3 trillion to suppor t low-income people, doubling the availability of hard currency in the market, and increasing interest rates on the Iraqi currency deposited in banks.

The committee discussed ways to confront the negative repercussions of increasing the exchange rate on citizens, especially the poor classes, as well as the measures that the Central Bank will follow towards banking companies to deter the weak from exploiting this situation.

[yota691]

MP Saadawi: The Central Bank will raise the price of the dollar to 145 thousand dinars, starting from Sunday

Thursday 17, December 2020 22:49 | Economical Views: 344

Baghdad / NINA / Member of the Parliamentary Finance Committee, Abdul Hadi Al-Saadawi, announced that the Central Bank will raise the price of the dollar to 145 thousand dinars, starting from Sunday.

Al-Saadawi said in a televised statement followed by / Nina /: “The policy of the Central Bank to raise the dollar against the dinar is old,” indicating: “The raising of the dollar was implemented before the decision was announced,” pointing out: “The leakage of the draft budget confused the Iraqi market and street.”

He asserted, "There is confusion with the financial policy drawn up by the government," noting that: "We do not have control over the window for selling the currency, and the increase in the dollar will be matched by an increase in the prices of commodities and goods." / End 9

[yota691]

Representative economics and the central bank discuss the instability of the dollar's exchange rate

Thursday 17th December 2020 - 17:53

Baghdad - conscious 

Today, Thursday, the Parliamentary Economic Committee discussed with the governor of the Central Bank the instability of the dollar's exchange rate. 

A statement by the committee, received by the Iraqi News Agency (INA), stated that it "hosted the governor of the Central Bank, Mustafa Ghaleb, and discussed with him the work of the central bank regarding the window for selling the currency and the instability of the dollar exchange rate, as well as the central bank’s monetary policy plan." 

The statement added that "the governor of the central bank provided a detailed explanation of the work of the central bank and the sale of currency through the single window."

The statement continued, "The committee is working to prepare a detailed report on the work of the central bank and how to control the window of sale of currency through practical procedures for the central bank, monitoring imports and excluding false imports, calling for accountability for violating and lagging banks and imposing financial penalties on them."

[yota691]

Central Bank Governor: We are ready to launch a package of measures to achieve balance in the exchange rate

Thursday 17th December 2020 - 18:12

Baghdad - conscious

Central Bank Governor Mustafa Ghaleb Makheif announced today, Thursday, that the bank is ready to launch a package of measures that will achieve a comfortable balance in the exchange rate.

The Media Department of the House of Representatives stated in a statement received by the Iraqi News Agency (INA), that "the Financial Committee will host today, Thursday, the Governor of the Central Bank, Mustafa Ghaleb, to discuss the economic crisis and the implications of the high exchange rate of hard currency on the Iraqi market situation." 

The media department added that "the committee focused during the hosting that was held at its headquarters on ways to confront the negative repercussions of increasing the exchange rate on citizens, particularly the vulnerable and poor classes, as well as the measures that the Central Bank will follow towards banking companies to deter the weak people from exploiting this situation."

She pointed out that "the committee called on the government to carry out rapid reforms to protect the vulnerable classes and those covered by the social welfare network and workers in the private sector, confront inflation and provide the necessary foodstuffs through the ration card."

According to the statement, Central Bank Governor Mustafa Ghaleb Makheif provided an explanation regarding the reasons for the high exchange rate, stressing that “the bank is preparing to launch a package of measures that will achieve a comfortable balance in the exchange rate for 2021, such as launching an initiative of 3 trillion to support low-income people, and doubling Providing hard currency in the market, and increasing interest rates on the Iraqi currency deposited in banks.