Allawi: Through the white paper, we will reform the fiscal policy

Allawi: Through the white paper, we will reform the fiscal policy

11/27/2020 16:41

Allawi - Through the white paper we will reform the fiscal policy[Baghdad-Where]
Finance Minister Ali Abdul Amir Allawi said on Friday that the Finance Ministry, through the White Paper, will reform the financial policy, monitor and change the economy.
Allawi said during his attendance at the meeting of the Iraqi Private Banks Association, that “the banking sector is one of the most important sectors, and the state is working to support it in order to move the economy,” noting that “the current economic reform movement is the most serious and will continue to the next governments.”
He added that “the Ministry of Finance is working to strengthen the infrastructure for the advancement of all economic sectors, especially the banking sector, in order to support investment projects in Iraq.” .
He noted that “the Ministry of Finance seeks to offer bonds worth 3-5 billion dollars to citizens in the two currencies, the dinar and the dollar,” expecting “private and government banks to buy them.”
He pointed out that “the exchange rate of the dinar against the dollar will be fixed when the bonds are issued in order to avoid any losses in the purchase of bonds by banks and citizens.” The political decisions that were taken in the past have affected the economy. ”
On the other hand, “the head of the Iraqi Private Banking Association, Wadih Al-Handal, thanked the Minister of Finance for responding to the invitation,” stressing that “the white paper accurately diagnosed the economic problems, and solutions became available to all officials.”
Al-Handal explained that “Iraq is now at a crossroads, and if the rapid reforms necessary to pull the country out of its crisis are not implemented, this crisis will worsen in the coming year and the years that follow,” calling for “the adoption of reform policies and contribution to their implementation, whether at the level of the public or private sector.”
He pointed out that “the Association of Private Banks praises the reforms related to the banking sector included in the white paper,” praising “the procedures of the Central Bank of Iraq that contribute continuously to support the private banking sector.”

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