A Government Source Reveals A Package Of Measures To Address The Difference In The Exchange Rate, 15 NOV

 A Government Source Reveals A Package Of Measures To Address The Difference In The Exchange Rate

Economy |  11/14/2023  Baghdad - Mawazine News  Today, Tuesday, the government took a package of measures to address the difference in the dollar exchange rate.

A government source said in an interview with Mawazine News, “Among the measures is organizing the import process and ensuring the entry of the largest number of merchants and importers to the foreign currency sales window by facilitating account opening procedures, deposit operations, and other procedures related to issuing the importer’s identity, which will facilitate the (know your customer) requirements for the category.” Merchants and importers.

He continued, "The government and the Central Bank are conducting ongoing negotiations with the Iranian side to regulate trade between the two countries and make the best options regarding payment of dues and amounts, and discussions are taking place at a good pace."

He stressed that "Prime Minister Muhammad Shiaa Al-Sudani directed work on a number of important projects to ensure that the poor and middle-income groups are not affected by the exchange rate difference, as the Ministries of Commerce and Health are working to import important materials and provide them in Iraqi dinars at stable prices, an example of which is the food basket project (which prevails at stable prices)."

 And the pharmaceutical basket, the construction basket, and the basket of reserve materials for the transportation sector... some of which work began a while ago.”

He pointed out that "the government is now working on an (equal deal) project to exchange trade and imports with some countries, such as China and India, and in their own currencies from Iraq's main trading partners, such as India, China, and some neighboring countries."

He explained, "The government is currently studying establishing a free zone to import materials and then market them to the private sector and ensure their delivery to the consumer at competitive prices and in the Iraqi dinar, in addition to studying a re-export project, and there are important discussions in this regard."

He stated that "the government issued a series of measures to develop electronic payment systems and reduce dependence on cash... and a series of other decisions will be issued in the coming days regarding pricing and incentive policy for services provided through electronic payment."

He continued, "The Prime Minister directed the activation of a joint committee between the government, the central bank, and the private sector, under the supervision of his office, to hold serious discussions with the US Treasury regarding transfers through the foreign currency selling window, and the committee has begun its meetings from now."

He continued, "The government is holding ongoing discussions with the Central Bank of Iraq on a number of topics, including facilitating procedures related to Iraqi banks importing the (cash) dollar. This process has already begun with some banks importing the dollar, and the process will expand to include other banks, and work is also underway to proceed."

By concluding agreements to supply the currencies of some countries to be provided through banks and banking companies to meet the needs of Iraqi pilgrims going to those countries without the dollar currency.”  https://www.mawazin.net/Details.aspx?jimare=237763