Sumaisem: America will not pump dollars into Iraq, and dealings will be in the digital currency

Sumaisem: America will not pump dollars into Iraq, and dealings will be in the digital currency

SUN, 27-12-2020, PM 1:09

Iraqi Dinar-Dollar auctionsEconomic expert Salam Sumaisem said on the devaluation of the Iraqi dinar, that the dollar will be scarce from its source in the US Treasury, which will exchange it for digital electronic money.

Sumaisem added in a statement followed by Noon today, Sunday: We will then see how the smuggling of dollars continues, indicating that only Iraq and its people will be the losers, and that whoever trades in the Iraqi dinar will benefit in nothing.

Sumaisem said that draining the sources requires that there be a shortage of dollars that are pumped into the markets, referring to the issue of pursuing political money, as the financial decision-makers say that they cannot drain the sources, but America, for example, went through the same crisis, especially after the decline of the US dollar A week ago, the global market increased by 8%, which prompted the Treasury Department to stop pumping more dollars into the US market itself.

Sumaisem considered that the Iraqi concerned authorities do not know how to act with the crisis. Rather, they acted in a bad way in reducing the price of the Iraqi dinar against the dollar.

Sumaisem said, “It is true that this provides liquidity, but it will not solve the crisis.”

And she continued: America, for example, is moving now to the stage of digital money, which is digital money, and thus it will not pump more dollars into Iraq until it becomes scarce, and then it can pump a digital dollar. That every dollar has a number and circulation in it between the seller and the buyer is known and limited. It will also change the whole world, and for Iraq it will be a pivotal change.

Sumaisem revealed that the Minister of Finance signed a blank statement that he would implement all the recommendations of the International Monetary Fund.