A FORMER OFFICIAL COMMENTS ON THE DECLINE IN THE VALUE OF THE IRAQI DINAR, 13 oct

 A FORMER OFFICIAL COMMENTS ON THE DECLINE IN THE VALUE OF THE IRAQI DINAR, 13 oct

Former MP and member of the Parliamentary Finance Committee, Muhammad Al-Shabki, made a special statement to Earth News Agency, where he discussed developments in the economic situation in Iraq and the impact of the fluctuation in the value of the Iraqi dinar against the US dollar.

Al-Shabki stressed that “this fluctuation comes in the context of the Central Bank taking a series of measures to unify the exchange rate in the coming period, stressing that the goal of these measures is to limit the negative effects of the parallel market and manipulation of the exchange rate and its impact on the general economic market in Iraq.”

Al-Shabki added: “It appears that there are efforts being made to attack these measures by some parties, exchange companies, and banks, with the aim of increasing pressure on the Central Bank and its governor, by trying to postpone the implementation of these measures.” It is expected that there will be an increase in these pressures in the future, including increased pressure on the government to prevent unification of the exchange rate and control the parallel market price.”

He concluded by saying: “We hope that the Central Bank will remain steadfast and independent, stand against pressure and rumors, and continue to implement international standards and prudent measures that will improve and stabilize Iraq’s economy and exchange rate.”