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Central Bank: changing the exchange rate achieved the desired results

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Central Bank: changing the exchange rate achieved the desired results Empty Central Bank: changing the exchange rate achieved the desired results

Post by RamblerNash Tue Apr 13, 2021 10:01 am

Central Bank: changing the exchange rate achieved the desired results 9469b2df1-55425-202103180950
2021.04.13 - 11:37

Baghdad - People 

On Tuesday, the Central Bank identified ways to improve the ration card items, while noting the need for the government to support local industry and agriculture. 

The Deputy Governor of the Central Bank, Ihssan Shamran Al-Yasiri, said in a statement to the official agency, which was followed by "Nass", (April 13, 2021), that "one of the demands of the World Bank during negotiations to raise the exchange rate of the dollar is to reform the public financial departments, which are taxes, customs, levies and financing part of the financial savings. Achieved in favor of the fragile classes, "stressing" the need to improve the ration card items to reduce the damage caused by adjusting the exchange rate. " 

He added that "it is possible to improve the ration card items by fighting corruption, and to limit the waste of Iraqi money in corrupt deals, because most of the ration items are national production such as rice, sugar, flour, oil and tomato paste," pointing out that "the government can invest the exchange rate adjustment initiative." Through more support for the local industry and agriculture after it obtained a competitive advantage of more than 23% against the importer of the products, and thus the importer is facing difficulty in competing with the local product. " 

He continued, "The World Bank suggested to the Central Bank of Iraq to amend the dollar exchange rate to 160 thousand dinars per 100 dollars, as it is the real price that the local market can settle on compared to neighboring countries," noting that "the central bank, through its study of the market and the living situation, found that The current value of the exchange rate is 145,000 suitable, and has actually achieved the desired results in monetary policy. " 

https://www.nasnews.com/view.php?cat=57752

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