IRAQ NEWS BY DINAR IRAQ & DONG VIETNAM , 12 JULY

 An economist who explains the mechanisms of supporting the Iraqi dinar and reducing the demand for the dollar

7-11-2023

An economist who explains the mechanisms of supporting the Iraqi dinar and reducing the demand for the dollarInformation / Baghdad…

Today, Tuesday, the economic expert, Safwan Qusay, explained the mechanisms of supporting the Iraqi dinar and reducing the demand for dollars in the parallel market.

Qusay told Al-Maalouma, “The government can support the Iraqi dinar through industry and agriculture, in addition to the possibility of selling oil to certain countries in Iraqi dinars with the knowledge of the US treasury.”

He added, “The approach to this mechanism would allow Iraqi merchants to import from these countries in dinars, and this opens the way for importing foodstuffs, soft drinks, cigarettes, medicines and other commodities, especially to countries that are allowed to sell oil in dinars, such as Jordan and Egypt. In return, merchants direct to import commodities from them in dinars.”

And he indicated that “the aforementioned measures would reduce pressure on the demand for the dollar in the parallel market, as confidence must return to the dinar, in addition to that the Ministry of Finance and the Central Bank have to work jointly.”

Qusai pointed out that “some public spending measures are not commensurate with the central bank’s policy, and vice versa.”

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