The central bank resolves the controversy over changing the dollar exchange rate

Update 10/28/2022 - 1:51 AM
  
Economy News - Baghdad

The Central Bank of Iraq denied, on Wednesday, the existence of efforts to change the exchange rate of the dollar, while warning against the process of destroying the economy and its stability.

Central Bank Adviser Ihsan Shamran al-Yasiri said, "The Central Bank of Iraq is an independent body, and the exchange rate adjustment is done in agreement with the government, and there are now no efforts to change it," according to the official news agency.

Al-Yasiri added, "The pressures exerted to change the exchange rate are populist, and if the change takes place, it will destroy the economy and stability, because financial and economic transactions and investors built their projects on the new price, and it is incorrect to seek to change the exchange rate."

He added, "Changing the exchange rate raised the competitiveness of the local product, and although there are some disadvantages to the consumer, the change process enabled the government to pay the employees' salaries after the state budget was empty."

https://economy-news.net/content.php?id=30186

" ... the change process enabled the government to pay the employees' salaries after the state budget was empty."

Pretty much says everything we need to know right there.

Phony Tony tried to spin that statement yesterday, and hilarity ensued. He is the US version of Baghdad Bob. 
Tony thinks the current government gives a damn about the poor in the country.