The dollar exhausts the dinar.. the suffering of citizens continues, and an economist proposes a “crazy solution”
The dollar exhausts the dinar.. the suffering of citizens continues, and an economist proposes a “crazy solution”
2023-07-27 | 05:48
The repercussions of the high exchange rates of the dollar in the Iraqi markets against the dinar and its effects on the Iraqi economy continue to exhaust economists and the political class and increase the suffering of citizens.
Despite the many measures taken by the current government, through theCentral Bank of Iraq, all that he has worked on will not be able to confront the rise of the dollar and will not be able to stop the series of bleeding the local currency.
The new rise in the Iraqi markets came after the imposition of new US sanctions on 14 Iraqi banks, which caused a big jump in the exchange rates of the dollar, in light of the growing demand for it in the local markets during the past week.
As the purchase price of the dollar inBaghdad157,500 per 100 dollars, i.e. an increase of 3000 dinars from yesterday, while the selling price of the dollar amounted to 155,500 per 100 dollars.
Economists and government advisors proposed a number of solutions, but most of them did not reach the point of solving a problem that threatened the Iraqi economy from time to time. However, what the economist put forward,Nabil Al-MarsoumiIt might be considered a “crazy solution”.
Says the economistNabil Al-MarsoumiIn a follow-up postAlsumaria NewsThe only solution currently available to address the current exchange rate crisis is to return the dollar exchange rate to the pre-pandemic levelcoronaThat is, to the level of 1180 dinars per dollar.”
And he adds, “This solution is economically insane and at a high financial and economic cost,” pointing out that “it is a temporary solution that will not address the essence of the problem, but it will stop the continuous bleeding of the Iraqi dinar and give the monetary authorities an opportunity to search for serious solutions to the origin of the crisis.” instead of unenforceable promises.”
And the economist asserts, “This idea will be violently rejected by economists, and politicians will implement it, even after a while; Because the current battle goes beyond the exchange rate to breaking bones.”
alsumaria.tv
