Economist: Soon Solutions Will Lead To A Decline In The Dollar And Turbulent Monetary Policy In Iraq
Time: 11/19/2023 Read: 3,289 times {Economic: Al-Furat News} The economic expert, Abdul Rahman Al-Mashhadani, revealed close solutions that would lead to a decline in the dollar, while describing monetary policy as “turbulent in Iraq.”
Al-Mashhadani said: For the {State Dialogue} program broadcast by Al-Furat satellite channel this evening, he said: “In the coming days, there are solutions that will lead to lowering the exchange rate, as we have 5 Iraqi banks that have partnerships with solid international banks and have a high reputation and capital.”
He added, "The partnership with Qatar National Bank gives strength to Iraqi banks, while Iraq and Iran deal with a third currency in commercial transactions, reducing the price of the dollar."
Al-Mashhadani described the current monetary policy in Iraq as “turbulent and is merely a buffer to absorb the mistakes of previous trade policies, and it is not compatible with the actual need.”
He added, "The platform detected 90 percent of the manipulations and problems in transfers. Some contracts were gateways to corruption and money laundering, and half of the invoices presented for imports were forged."
Al-Mashhadani pointed out that "the food sector accounts for approximately 41 percent of the inflation equation, and exchange rate fluctuations affect various sectors in addition to the psychological factor."
He concluded by saying, "80% of transfers were rejected by the US Federal Bank for no reason, and the delay in rejected transfers forces merchants to buy from the parallel market." Wafaa Al-Fatlawi LINK
No comments:
Post a Comment