An economist calls for the formation of a higher committee to evaluate the work of the Central Bank and the reasons that led to the financial tragedy

Friday 18, December 2020 19:47
 
Baghdad / NINA / Economic specialist Diaa and Wajid asked the engineer to form a high-level committee to evaluate the performance of the Central Bank and the reasons that led to the tragedy that the local market witnessed during this period.

He told the Iraqi National News Agency / NINA /: The performance of the Central Bank and its governorate must be reconsidered, as the process of its nomination from a specific block was to benefit from obtaining a large monetary block by manipulating the exchange rate and the monopoly of some banks in the currency auction.
 
The engineer called for the formation of a high-level committee from Parliament, the Integrity and Financial Supervision Authority and the General Secretariat to assess the performance of the Central Bank and the reasons that led to the tragedy in the market.

Al-Muhandis indicated that: The Central Bank began to deplete hard currency from the cash reserve and started selling twice as much hard currency as our oil imports.

It is noteworthy that a copy of the draft fiscal budget for 2021 was leaked earlier to the media and social networking sites, and sparked widespread controversy and turmoil in the foreign currency market and commercial markets, as the dollar exchange rate in the local market rose in a frenzy and exceeded 1,300 dinars per dollar.

For its part, the Ministry of Finance expressed yesterday, Thursday, its resentment and deep regret for the unauthorized publication of the draft budget for 2021 ./ End 3

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