Parliament’s finance advises raising exchange rates again. Money about oil revenues?
Economy News – Baghdad
A member of the parliamentary finance committee Adnan Al-Zarfi stressed on Friday the need to raise the dollar exchange rates in the Iraqi markets, while pointing out that America is pressing Iraq to reform the victory.
Al-Zarfi said, in an interview followed by “Economy News”, that “the exchange rate of the dollar against the Iraqi dinar must be more than 1,500 dinars in order to create real economic development,” noting that “the current exchange rate allows to weaken the local industry.”
He added, “Iraqi oil export revenues go to the US Federal Bank in two accounts,” pointing out that “the US Federal Bank was aware of the existence of different numbers from Iraq’s imports of customs and the Central Bank, which led to a change in the trade financing mechanism.”
“The non-payment of customs taxes and duties is one of the most important indicators for the Americans about the economy,” a member of the Finance Committee added.
Al-Zarfi indicated that “the government of Kadhimi omitted the establishment of the dollar platform despite America’s demand to do so,” noting that “America is pressing Iraq to reform the banking system and within 5 years we will eliminate monetary dealing.”
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