Central Bank: Changing the exchange rate achieved the desired results

Central Bank: Changing the exchange rate achieved the desired results




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 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 and levies and financing part of the financial savings achieved for the benefit of the vulnerable classes,” stressing “the need to improve the card items. Ration 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 initiative to adjust the exchange rate." 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 had difficulty competing with the local product.

He continued, "The World Bank suggested to the Central Bank of Iraq to amend the exchange rate of the dollar to 160 thousand dinars per 100 dollars, as it is the real price that the local market can settle upon 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 thousand suitable, and actually achieved the desired results in monetary policy.


https://iraqakhbar.com/3026610

The central bank determines the remedies for the repercussions of raising the dollar’s ​​price

Economy | 11:37 - 04/13/2021


Baghdad - Mawazine News
On Tuesday, the Central Bank of Iraq identified the remedies for the repercussions of raising the price of the dollar, and supporting the ration card items by emphasizing the need for the government to support local industry and agriculture.

The deputy governor of the Central Bank, Ihssan Shamran Al-Yasiri, said, according to the official agency, that "one of the demands of the World Bank during the 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 for the benefit of the vulnerable classes," stressing that " The need to improve the ration card items to reduce the damage caused by adjusting the exchange rate.

Al-Yasiri added, "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 initiative of amendment." The exchange rate is 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. Consequently, the importer is facing difficulty in competing with the local product. "

He continued, "The World Bank has 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 upon compared to neighboring countries," noting that "the central bank, through its study of the market and the living situation." It was found that the current value of the exchange rate is 145 thousand suitable, and indeed it achieved the desired results in the monetary policy. "Ended 6/29



https://www.mawazin.net/Details.aspx?jimare=149445