Economists criticize the Central Bank’s policy and determine the level at which the dollar will stabilize
11-26-2023
Economists criticize the Central Banks policy and determine the level at which the dollar will stabilizeOn Saturday, economic experts criticized the financial policy of the Central Bank of Iraq, and while they expected the level at which the dollar would stabilize, their opinions differed about repeating the Lebanese scenario in the country.
The professor of public law, Safaa Al-Shammari, said in the program “The Eighth with Ahmed Al-Tayeb”, followed by “ Jarida ”, that “there is clear confusion in the financial policy of the Central Bank, as it recently recognized the parallel market and that the dollar is subject to factors of supply and demand, so the statements of the government and the Central Bank were The precedent for parallel is wrong.”
Al-Shammari added, “The parallel market has received official recognition from the Central Bank, and it is not possible to distinguish between the parallel dollar and the window dollar, and allowing the import of the currency will not reduce the increase in demand, and what is happening is a repetition of the Lebanese scenario in Iraq.”
He continued, “The State Council stated in 2011 that there is no legal basis for importing foreign currency, and that sanctions cannot be imposed without legal provisions, while the Central Bank did not issue an explanation regarding the Abu Dhabi meeting.”
For his part, the economic expert, Ahmed Manaf, said in the same program, “The government is looking for many ways to end the dollar crisis, and that implementing the platform has facilitated the legalization of import transfers, and that transferring through the platform at the official rate takes only 7 days, and the bank’s procedures must be adhered to.” Central Bank regarding the dollar.
Manaf explained, “Increasing circulation in dollars will reduce the increase in demand, and that the dollar will stabilize at 150 thousand dinars, and the Lebanese scenario cannot be repeated in Iraq.”
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