Central Bank: We are ready to launch a package of measures to achieve balance in the exchange rate
Central Bank: We are ready to launch a package of measures to achieve balance in the exchange rate
12/18/2020 10:52
[Baghdad-Where]
Central Bank Governor Mustafa Ghaleb Makheif announced, Thursday, that the bank is ready to launch a package of measures that will achieve a comfortable balance in the exchange rate.
The Media Department of the House of Representatives said in a statement, that “the Finance Committee hosted, Thursday, the Governor of the Central Bank, Mustafa Ghaleb, frightening, to discuss the economic crisis and the implications of the high exchange rate of hard currency on the Iraqi market situation.”
She added, “The committee focused during the hosting, which was held at its headquarters, on ways to confront the negative repercussions of increasing 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.”
She pointed out that “the committee called on the government to carry out rapid reforms to protect the vulnerable classes and those covered by the social care network and workers in the private sector, confront inflation and provide the necessary foodstuffs through the ration card.”
According to the statement, Central Bank Governor Mustafa Ghaleb Makheif 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 comfortable balance in the exchange rate for 2021, such as launching an initiative of 3 trillion to support low-income people, and doubling Providing hard currency in the market, and increasing interest rates on the Iraqi currency deposited in banks
alliraqnews.com
