Parliamentary Finance warns the Iraqi government of “imminent financial collapse”
Parliamentary Finance warns the Iraqi government of “imminent financial collapse”
Monday 28 June 2021 | 01:49 PM
On Monday, the Parliamentary Finance Committee warned the Iraqi government of a “financial collapse” as a result of the lack of control over the dollar’s exchange rate against the Iraqi dinar .
Committee member Abdul Hadi Al-Saadawi said, “Iraq depends mainly on oil imports,” explaining that “any drop in oil prices will cause a financial collapse as a result of the government’s lack of control over the dollar exchange rate .”
Al-Saadawi added, “The financial situation in Iraq began to collapse dramatically, without any treatment or solutions for the government,” warning against “not going to customs revenues, border crossings, taxes and fees imposed on imported goods and commodities .”
Al-Saadawi pointed out, “Iraq’s need for appropriate solutions and plans to address the financial crisis to save the local currency (the Iraqi dinar) from financial collapse and control the market.”
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