A PRECISE BREAKDOWN OF MONETARY POLICY IN IRAQ
The economic and financial advisor to the Prime Minister, Mazhar Muhammad Saleh, explained today, Sunday, the mechanism of monetary policy in Iraq.
(When Saleh talks… I listen. How about you? )
Saleh said {to Al-Furat News} that: “The monetary policy works to ensure that the price of the dollar in the parallel market is close to the nominal price through procedures and measures by using its operational objectives, whether {quantitative} of them, that is, by controlling and sterilizing surplus liquidity opportunities with high flexibility.”
He added, “Or the {price} that requires effective use of the exchange rate and interest rate signals in order to maintain the superiority of the Iraqi dinar, stabilize its value in the overall economy, and minimize the role of the secondary exchange market, which must approach the central exchange rate of 1,320 dinars per dollar.”
Saleh added, “Providing the national market with consumer and intermediate commodity products and supplies with stable prices will be among the government’s import priorities, whenever necessary, in order to achieve a balance between supply and demand and achieve price stability for basic and important commodities, in accordance with the requirements of a stable standard of living.”
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