An optimistic vision.. The demand for the dollar will decrease and it may disappear from the informal market
9-7-2023
An optimistic vision.. The demand for the dollar will decrease and it may disappear from the informal marketToday, Thursday, the economic expert, Safwan Qusay, predicted that the demand for the dollar would gradually decrease and that the dollar might disappear from the informal market.
He pointed out that “the penalized countries and entities are still bringing goods into Iraq, obtaining Iraqi dinars, and trying to change the dinar into dollars through the irregular market.”
And he expected that “the demand for the dollar will continue to decline gradually, and the dollar may disappear from the informal market,” pointing out that “the process of stopping the smuggling of dollar cash and introducing drugs into Iraq will contribute to reducing the demand for dollars in the informal market, and I believe that the window for buying from international electronic platforms such as Amazon and Alibaba by the Iraqis through the issuance of the Master Card and the dollar visa card will contribute to the acquisition of goods from international platforms and their access to the Iraqi consumer without there being an informal introduction of these goods.
Qusai called for “supporting this measure by the Ministry of Finance, the Ministry of Commerce, and the Central Bank, and activating the process of transformation towards financial inclusion, because the Federal Bank and the US Treasury are determined to clean the Iraqi economy from the corrupt, and there will be tracking of the movement of the dinar and the dollar to dry up the sources of obtaining them in an informal way.”
He stressed that “there is no alternative but to shift towards official procedures, and unofficial goods will gradually disappear, and certainly the Ministry of Commerce at this stage must protect consumers, especially at the level of goods that affect the lives of Iraqis.”
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