Parliament hosts CBI governor following soaring Dollar rates, 16 OCT

Parliament hosts CBI governor following soaring Dollar rates, 16 OCT

Shafaq News / The parliamentary Financial Committee announced on Monday its intention to host the Governor of the Central Bank of Iraq, Ali Al-Alaq, and the bank's top executives in the coming days.

Committee member Mustafa Al-Karaawi informed Shafaq News Agency that this week, "the committee will host Central Bank Governor Ali Al-Alaq and the bank's executives to investigate the reasons behind the erratic movements in the exchange rate of the US Dollar in the parallel market, and to identify the responsible entities for implementing the reform measures initiated by the Central Bank."

Al-Karaawi pointed out that the instability in the Dollar exchange rate has caused significant economic problems, lamenting the absence of a clear policy from the Central Bank. He stressed that it is the government's responsibility to implement the reforms outlined by the bank, emphasizing the shared responsibility between the Central Bank, governmental bodies, and particularly those involved in imports and customs checkpoints to control the exchange rate.

"The discussion with the Central Bank Governor will delve into the economic crisis, the fluctuations in the Dollar exchange rate, and the agreements made by the bank with the US Federal Reserve and the World Bank," Al-Karaawi added.

The Iraqi Dinar has witnessed a consistent and alarming surge against the US Dollar over several months, reaching its peak this month at an astonishing 1655 Dinars to the Dollar, despite the government and the Central Bank officially setting the exchange rate at 1320 Dinars for one US Dollar.

https://shafaq.com/en/Iraq-News/Parliament-hosts-CBI-governor-following-soaring-Dollar-rates