Economy News – Baghdad
Deputy Governor of the Central Bank Ammar Khalaf announced on Sunday the success of the campaign to support the dinar, and while stressing the implementation of controls that helped stabilize the exchange rate, he pointed out that there is no problem with the amount of foreign currency supply.
Khalaf told the official news agency, “The Central Bank has supported exchange rate stability with a series of procedures, instructions and controls since the beginning of this year that included a wide range of transactions to import goods and services through access to the electronic platform.”
He added, “This was a key point for the inclusion of as many traders and individuals allowed to obtain foreign currency as possible,” explaining that “the acceleration of procedures was an additional factor in improving confidence in the electronic platform.”
He continued: “There is no problem with supply but by demand, as the offer exists, and it is intended for the purpose of financing foreign trade through the Central Bank; therefore, I think it is a problem with demand,” explaining that “the Central Bank is trying to address the problems to facilitate obtaining foreign currency to import goods and provide services to citizens and travelers for the purpose of hospitalization abroad.”
He pointed out that “the debt support campaign succeeded by the evidence that there are many goods and services that are now priced the dinar instead of the dollar, especially electrical and electronic devices.”
He added that “activating electronic payment in all sectors and shops takes some time, and there is a great demand and readiness by public sector companies as well as the private sector,” explaining that “there are great preparations and continuous meetings held by the Central Bank with all concerned authorities, as the current period is the stage of preparing arrangements for the purpose of starting electronic delivery by public sector companies and the private sector.”
