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Change the value of the Iraqi currency … benefits and costs

The importance of the Iraqi currency and its impact on the Iraqi economy in light of the current changes The Department of Economic Studies in Beit al-Hikma held a scientific symposium entitled “Change in the value of the Iraqi currency, benefits and costs” under the chairmanship of Prof. Dr. Falah Hassan Thoini, / 7/2019 on the seminar hall in Beit al-Hikma.

The seminar was attended by Dr. Mazhar Mohammed Saleh, financial adviser to the Prime Minister, as well as Professor Dr. Mahmoud Mohammed Dagher, Director of the Department of Financial Operations and Debt Management of the Central Bank of Iraq.

The participants discussed the problem of changing the value of the Iraqi currency and the reduction of the Iraqi dinar and its impact on the Iraqi economy, some describe this reduction as support for the global economy and some see the deterioration of the purchasing power of the Iraqi individual.

Dr. Mazhar Mohammed Saleh talked about the policy of the Central Bank since its establishment so far in a concise and clear as the goal of the bank is to manage the monetary expectations and how Iraq’s oil revenues since 2003 to 2014 is improving continuously so there was no budget deficit. He pointed to the role of Iraq and the agreements signed with the International Monetary Fund and its impact on the Iraqi economy.

He concluded by discussing the need for new policies that are consistent with the central bank’s policy of reaching solutions.

Dr. Mahmoud Mohammed Dagher discussed the current exchange rate regime for two years in Iraq and mentioned facts about the Iraqi economy for 2019.

The promise of the devaluation of the Iraqi currency affects all the real and monetary balances of the Iraqi economy because one of the reasons for inflation accompanying the reduction ignites expectations and pressures towards the continuation of subsequent reductions decisions.

In conclusion, there were comments from the audience and views and proposals on the decision to reduce the Iraqi dinar.

The seminar was attended by Dr. Ihsan Al-Amin, Chairman of the Board of Trustees of Bayt Al-Hikma and a number of prominent personalities in the banking and financial field and a number of academics.  Source