🛡️💵 Ali Al-Alaq: Defending the Dinar Today to Strengthen It Tomorrow
Amid growing rumors of pressure to devalue the Iraqi dinar, the stance attributed to Ali Al-Alaq is sending an important signal to the market.
🏦 The priority appears to be maintaining monetary stability, protecting citizens' purchasing power, and avoiding decisions that could trigger a new wave of inflation.
📉 A rushed devaluation could increase the cost of imports, drive up prices, and shift the burden of the financial crisis directly onto Iraqi families.
⚖️ For this reason, many observers believe the strategy is not to weaken the dinar as a short-term solution, but rather to preserve its strength and credibility while deeper economic reforms are implemented.
📈 Beyond stability, the long-term vision appears to be even more ambitious: maintain a stable currency today and, when economic, financial, and structural conditions allow, move toward a gradual and sustainable appreciation of the Iraqi dinar's value.
🌍 A strong currency is not built through emergency measures, but through fiscal discipline, economic growth, institutional confidence, and responsible monetary management.
✨ The message many are taking away is clear: stabilize first, strengthen later.
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Secret Discussions Within Al-Zaydi's Government to Raise the Dollar Exchange Rate, and the Central Bank Governor Threatens to Resign
Special government sources revealed sharp discussions within Prime Minister Ali Al-Zaydi's government to reconsider the dinar exchange rate against the dollar to confront the acute liquidity crisis and secure employee salaries, amid proposals ranging from raising it to 1600 or 1700 up to 2000 dinars per single dollar.
The sources confirmed Central Bank Governor Ali Al-Alaq's strong rejection of this direction, as it falls within the powers of the independent bank, and he threatened to submit his resignation officially if the political pressures on him continue to force him to make the dangerous decision at a time when local markets recorded a new rise in the dollar reaching 154 thousand and 750 dinars for every 100 dollars.
Economic experts warned that devaluing the national currency will directly transfer the cost of the financial crisis to citizens and ignite a sharp wave of inflation that crushes the purchasing power of families and exacerbates poverty rates as a result of Iraq's total reliance on imports to secure goods and food supplies.
The experts pointed to the dangers of other proposed alternatives, such as printing currency to finance the deficit, as it leads to an increase in the money supply without real production, demanding to stay away from simplistic solutions, control non-essential spending, and improve tax collection and customs instead of resorting to quick monetary options that postpone the structural crisis of the rentier economy.
Source: Al-Alam Al-Jadid Newspaper
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