The Sudanese wants to end internal dealings with the dollar, and “dollarization” has been a legacy since 1982.. His advisor
The Sudanese wants to end internal dealings with the dollar, and “dollarization” has been a legacy since 1982.. His advisor
2023-12-01
Thursday, Mazhar Muhammad Saleh, the financial advisor to the Prime Minister, identified the priorities of the national project launched by Prime Minister Muhammad Shiaa Al-Sudani to deal with the fluctuations of the dollar, and said that its ultimate goal is to eliminate what is known as “dollarization,” that is, completing internal transactions and valuing them in dollars instead of dinars. He described this as a legacy that has emerged since 1982, and must be put to an end, to ensure “monetary sovereignty.”
Saleh, in a statement to the official agency, followed by Network 964:
The issue of due diligence in organizing external transfer requests by banks is still not consistent with international compliance standards.
Some (Iraqi) banks have not reached the level of interest required globally because they mediate in the purchase of foreign currency for the benefit of the commercial community, and some requests are subject to rejection, which accumulates a surplus demand that may find its way to financing, illegally, into the informal secondary market.
Today’s economic policy is responsible for defending price stability by providing an additional commodity supply with stable prices, in a national project launched by the Prime Minister to protect the standard of living and protect the citizen’s real income from price fluctuations.
The government, in cooperation with the private sector, launched 4 additional baskets to strengthen the goods offered, and they extend between food (in addition to the food basket), the pharmaceutical basket, the building supplies basket, and the basket of widely used reserve materials, especially related to the transportation sector and others.
The goal is to protect Iraq’s monetary sovereignty and end the use of foreign currencies in evaluating internal transactions. (Dollarization) is a legacy that has extended since 1982, as dealing with the dollar internally in settling or paying for the buying and selling of goods, services, rents, and contracts within the national economy is an act that violates the law.
964media.com
