ALLAWI REVEALS THE PARTIES THAT OWN THE IRAQI DINAR AND ARE READY TO BUY THE DOLLAR BY ANY MEANS, 23 JAN

 ALLAWI REVEALS THE PARTIES THAT OWN THE IRAQI DINAR AND ARE READY TO BUY THE DOLLAR BY ANY MEANS

The former Iraqi Minister of Communications, Mohammed Tawfiq Allawi, revealed today, Monday, a proposal to solve the problem of conflicting exchange rates of the dollar, indicating that this would protect the economy and maintain the stability of commodity prices in the markets, 

while at the same time pointing to groups he called the third party that possess many Iraqi currencies and are ready to buy the dollar by any means.

“There is more than one problem, and the most important issue is the difference in currency exchange rates. In my opinion, this problem can be solved easily through an ideal method. We have more than one party that needs the dollar.

 The first is merchants and people who import goods, and the second party is travelers. This difference can be resolved with the exchange rate. Parties that need money for trade can open a credit at the official price,” Allawi said in a statement to Noon News Agency.

He added, “There is a third party, most of whom are unfortunately corrupt, and they have a lot of money in dinars and need dollars. They are ready to buy dollars by any means, and thus they are outbidding the market price. There are facilities for anyone who wants to sell his property and he lives outside Iraq. He can easily transfer his money according to the official exchange rate, and there is no problem.”

He explained, “This difference in exchange rates is at the expense of the citizen, as he is the loser, and the price of the Iraqi currency has decreased, and consequently the price of goods has increased. Knowing that we can easily import all goods by opening a credit or another method called cash before shipping documents, and this maintains the balance of prices, but because the corrupt class exists and needs the dollar, this is what caused the difference in the price of the currency.”