Central Bank of Parliament Governor for Parliamentary Finance: We are preparing to launch a package of measures that achieve a displacement balance in the exchange rate
Central Bank of Parliament Governor for Parliamentary Finance: We are preparing to launch a package of measures that achieve a displacement balance in the exchange rate
12/17/2020 18:08:46
{Baghdad: Al Furat News} The Financial Committee headed by Haitham Al-Jubouri discussed on Thursday with the Governor of the Central Bank, Mustafa Ghaleb Mekharif, the economic crisis and the implications of the high exchange rate of hard currency on the Iraqi market situation.
In a statement received by the Al Furat News Agency a copy of it, the committee stated that “sponsorship has been discussed during the hosting of ways to confront the negative repercussions of the increase in the exchange rate on citizens, particularly the vulnerable and poor classes, as well as the measures that the Central Bank will follow towards banking companies to deter the weak people from exploiting this situation.” .
The committee called on the government to carry out rapid reforms to protect the vulnerable classes and those covered by the social welfare network and workers in the private sector, confront inflation and provide the necessary foodstuffs through the ration card.
For his part, the Central Bank Governor provided an explanation on the reasons for the high exchange rate, stressing that the bank is preparing to launch a package of measures that will achieve a shifting balance in the exchange rate for the year 2021, such as launching an initiative of 3 trillion to support low-income people.
He noted frightening to double the provision of hard currency in the market, and increase interest rates on the Iraqi currency deposited in banks.
alforatnews.com
