Clare: Central Bank Governor: We are determined to stabilize the exchange rate
2/15/2023
The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed today, Wednesday, that the platform was found to protect the banking sector, while indicating the central bank’s determination to stabilize the exchange rate of the dollar.
Al-Alaq told the Iraqi News Agency (INA), that “the new electronic platform is to avoid any penalties imposed on the parties that carry out transfer operations, whether they are banks or others. It is a protection for the banking sector, the central bank and banks from falling into any forms related to external financial transfers, and this serves all parties.” “.
On the exchange rate of the dollar, Al-Alaq explained, “The responsibility of the central bank is to close the difference in the exchange rate, and our steps are serious and vigorous, and we receive great support from all parties to achieve the goal.”
He added, “Our discussions with the International Monetary Fund were very fruitful, and we agreed on programs that serve properly directly or indirectly to achieve this goal. LINK
Sheila: This is so awesome that Al-Alaq is back as the Govenor of the Central Bank (this is so God ), knowing Al-Alaq has his signature on the lower denomination, or the small category notes of the Iraqi dinar. IMO if you had your signature on currency wouldn’t you want it to go international. It will go down in history.
*************
Henig: What is Iraq’s position? Law: America controls financial movement through SWIFT
State of Law Coalition MP Thaer al-Jubouri said on Wednesday that America will not allow Iraq to exit the Federal Bank of its own free will, while stressing that Washington is in control of the Fed’s financial transactions.
Al-Jubouri said in a press interview seen by “Taqadum” that “America will not allow Iraq to exit the Federal Bank,” noting that “America has developed policies and paragraphs to serve their own interest at the expense of all countries included in the Federal Bank.”
He continued, “Washington controls the global financial movement through the electronic SWIFT system, and Iraq will not be able to get out of this system at the present time,” pointing out that “the latter imposes the passage of the dollar in the Federal Bank before it reaches Iraq as a result of the sale of oil.” LINK
Henig: IMO: Sounds to me like a plea to get out of the SWIFT system. Also sounds like they’re floating a trial balloon to see how this idea is received.
