Clare: Tomorrow.. Al-Sudani is visiting an Arab country
3/04/2023
The Iraqi Prime Minister, Muhammad Shia’a Al-Sudani, intends to make an official visit to the Arab Republic of Egypt.
An informed source told Shafaq News agency; Al-Sudani will pay an official visit to Egypt tomorrow, Sunday, during which he will meet Egyptian President Abdel-Fattah El-Sisi
The source added; The Iraqi Prime Minister will discuss during the visit a number of economic, security and political files and the activation of bilateral agreements between the two countries. LINK
Henig: Nabil Al-Marsoumi for / Nina / : Exchange rate stability. The ability of the government to limit internal dealings to the national currency
Baghdad / Nina / Economist Nabil Al-Marsoomi confirmed that the stability of the exchange rate. The government’s ability to eliminate dollarization and limit internal dealing to the national currency.
He told the Iraqi National News Agency (Nina): The reason for the discrepancy between the official exchange rate and the parallel rate is because the amounts allocated for transfers and documentary credits are still low compared to cash sales.
He added that a large part of traders resort to the local exchange market to obtain dollars to finance their imports from abroad, even if it is the so-called black trade transfers in the sense of smuggling dollars abroad to pay the dues of traders. He expects the matter to continue unless banks and merchants increase their demand to comply with the new electronic platform, although there is slow compliance and development.
He explained: The gap between the two prices is likely to continue at least during a period of weeks and the next few months, as long as there are cash sales, meaning there is smuggling of dollars, so there is a large gap between the official price and parallel prices.
Al-Marsoumi pointed out: Bridging this gap is the extent of the government’s ability to eliminate dollarization and its ability to limit internal dealing to the national currency instead of the dollar. LINK
