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Iraq lacks local productivity.. The decision of the dollar exchange rate against the dinar in stock exchange transactions


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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."

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18 hours ago, yota691 said:

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 system" rel="">support the dinar is the presence of local productivity, and this is what Iraq lacks. There is nothing but oil revenues to support system" rel="">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."

this is an excellent article.

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19 hours ago, yota691 said:

There is nothing but oil revenues to support system" rel="">support the dinar, and since oil prices are not fixed, this leads to a change in the value of the dinar." 

A change in the value of the dinar? This is more like it if it is true. Come on iraq, talk is cheap, hurry the hell up and just do it.

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A government official warns of an economic shock to the country linked to the dollar exchange rate

political| 07:29 - 27/02/2022

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https://www.mawazin.net/Details.aspx?jimare=185868

162722022_62-132711-price-dollar-iraq-today-sunday-january-10-2021_700x400.jpg.f63fd6c6f06feb7b0454c2e83b28e16e.jpg

Special - Mawazine News
, on Sunday, the former Director of the Financial Supervision Bureau, Salah Nuri, ruled out returning the dollar exchange rate to its previous era.
In an exclusive interview with Mawazine News, Nuri confirmed that any change in the current exchange rate will cause a major economic shock to the country, as happened during its lifting, pointing out that all deliberations and hostings in this regard will not produce a result.
He pointed out that the current exchange rate has become a reality and cannot be changed quickly, likening the situation now to slums that cannot be removed directly without finding alternatives for their residents, and this is the case with the exchange rate with the dollar.
It is noteworthy that Parliament will hold a session tomorrow, Monday, to discuss the dollar exchange rate, in the presence of Finance Minister Ali Abdel Amir Allawi. Ended 29/R77

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On 2/26/2022 at 11:10 PM, yota691 said:

"The core issue to support system" rel="">support the dinar is the presence of local productivity, and this is what Iraq lacks.

 

Once they revalue their currency to their actual value, private sector will pick up (now that they are no longer under any chapter 7 restraints) and local productivity won't be much of an issue anymore. 

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An economist presents a proposal on the price of the dollar to avoid the country's "negative repercussions"

Information/Baghdad:
The economic expert, Daoud Abd Zayer, warned, on Monday, that changing the dollar exchange rate would create negative repercussions in banking transactions by paying debts in the local market, suggesting that decreasing the exchange rate be gradual and making new contracts according to the government’s vision.
In a statement to "Information", Zayer said, "A sudden demand to return the dollar exchange rate to its previous position will generate great confusion in commercial and financial transactions, especially in the field of debt repayment for dealers in the local market."
He added, "The reduction and return of the exchange rate will burden the Iraqi state with large sums of money estimated in billions as a result of its contracts with companies and countries that concluded after the decision to raise the exchange rate."
Abdel Zayer suggested to “the political forces not to look at the issue with the view of attracting the love of their audience as much as they are aware of the problems and negatives that will result from the previous exchange decision,” calling for “work to gradually reduce the dollar price while making new future contracts according to the vision of the financial vision of the ceiling that will reach.” him in the future.” finished/25pm

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