Baghdad Today

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A change in the exchange rate and the value of salaries of groups … Fears that the white paper will turn into a “red”

The economic expert, Abdul Rahman Al-Mashhadani, described, on Thursday (October 15, 2020), the white paper for financial reform that the government submitted to Parliament as “red”, while stressing that it needs eight years to implement it.

Al-Mashhadani said in a televised interview with (Baghdad Today), that “the paper presented by the government to Parliament is a red card, not a white one, and it needs great sacrifices from the Iraqi people from the middle and poor classes, because the reform paper will reduce the salary ceiling and raise the exchange rate, and the poverty rate will rise in Iraq”.

He added, “The paper has many positive aspects, but it is not suitable for the crisis that Iraq is witnessing now, which will continue until the end of next year with the drop in the price of oil,” noting that “it is a master’s thesis, not a government reform program, and it takes 8 years to implement it.”

He pointed out that “if parliament approves this white paper, it is expected that the new parliament, after the elections, will cancel the paper.”

And the agency (Baghdad Today), Tuesday (10/13/2020), published the terms of the “white paper” submitted by the government to the House of Representatives.

The introduction to the “ white paper ”, submitted by the government of Prime Minister Mustafa Al-Kazemi to Parliament, and which (Baghdad today) has obtained its full version: “This white paper includes the final report of the emergency cell for financial reform, with the aim of managing the financial situation. In light of the current financial crisis, and developing the necessary solutions to achieve financial reform and improve the management of financial institutions, the cell has undertaken the development of the economic reform program stipulated in the Domestic and Foreign Borrowing Law No. (5) of 2020, with the aim of restructuring the Iraqi economy to face the next challenges. Source