Chamber of Commerce: 13 million people are paying the price due to central bank policies, 17 OCT

Chamber of Commerce: 13 million people are paying the price due to central bank policies

 On Monday, the Diyala Chamber of Commerce identified what it called the three failures in stabilizing the parallel market in Iraq. 

The head of the Diyala Chamber of Commerce, Muhammad Al-Tamimi, said in an interview with “Al-Ma’louma” that “the failure to control the rhythm of the dollar exchange rate in the parallel market and the large difference between it and the official price and the presence of smuggling in various ways, in addition to the lack of transparency in distributing the dollar shares to travelers according to In official contexts, they represent the most important failures of the central bank.” 

He added, "The Central Bank is responsible for the dollar file in Iraq, and what is happening represents negative repercussions that must be taken into account and its objective reasons explained," stressing that "13 million Iraqis suffer from the threat of poverty and are paying the price due to the instability of the price of the dollar because it exerts strong pressure on the prices of materials." Food and medicines. 

He pointed out that "the continued instability in the currency market calls for structural changes in the central bank that lead to changing currency regulation strategies at the earliest opportunity and reduce the risk of speculation that plunders millions of Iraqis.  link