KTFA (Don961 & Samson)

  In KTFA 

Samson: Representative economics: future generations will find nothing but debts, and their balance will be frozen money

12/13/2020 12:54:08

A member of the Parliamentary Economic and Investment Committee confirmed, today, Sunday, that there is difficulty in recovering the funds and assets frozen abroad.

Nada Shaker Jawdat told Al-Furat News Agency, “Regarding the Iraqi funds and assets frozen abroad, they can cover large debts to the country,” noting that “the problem in launching them is difficult.”

She added that “there are concerns about the credibility of the arrival of these financial assets to Iraq,” adding that “it will be stolen as previous budgets were stolen.”

“Keeping these assets abroad to preserve them for future generations, as I expect that they will only find loans and debts before them,” Jawdat said.

Jawdat called on the government to “search for outlets to solve the current economic crisis.” LINK

Don961:  Expectations of stable currency exchange rate

Sunday 13 December 2020  Baghdad: Farah Al-Khafaf

A specialist in financial affairs played down the negative effects of the current fluctuation of the dollar’s exchange rate against the dinar, expecting stability during the coming period for several reasons, while MP Burhan Al-Mamouri believed that the fluctuation leads to confusion in the local market.

The expert, Thamer Al-Azzawi, told Al-Sabah: “The current fluctuation is within permissible, meaning that the rise and fall does not exceed 3 percent, and this percentage does not affect much, especially with the current conditions and the challenges that the world is witnessing due to the spread of the Corona virus.”

increasing of demands

Al-Azzawi added that “the rise that the markets have been witnessing a week ago is my time, and it came with the end of the year, and after the launch of salaries, which led to an increase in demand, and also to the process of hoarding by citizens, and rumors of an exchange rate hike by the state.” The coming days are at the 1250 dinars barrier against the dollar the one”.

Al-Azzawi believes that «the approval of the 2021 budget, will contribute to the stability of the market, and give reassurance to everyone, whether citizen or merchant».

He also pointed out that «the good news about Corona vaccines, and their adoption by several countries, will lead to the movement of global markets, the beginning of ending the closures and the return of stability to the economies of major countries, especially the industrial ones, which may result in higher oil prices, which will boost the hard currency At the central bank and moving towards Stability ».

Greed speculations

For his part, MP Burhan Al-Mamouri said: “The exchange rates of the Iraqi dinar against the dollar are witnessing a clear instability in the market, while we notice them steady in the currency auction, which indicates greedy speculations carried out by parties that do not want good for Iraq and its people.”

“The big difference between the official price of the dollar and what is traded in the local markets confused the market and raised citizens’ fears, from the high prices of goods and foodstuffs, which causes a new burden on the Iraqi individual,” Al-Mamouri added in a statement.

Local markets

Al-Maamouri called for a “reconsideration of the currency auction, monitoring the exchange rates in the local markets, and punishing all those who manipulate the currency rate, with severe penalties to protect the national economy, which suffers greatly due to the absence of a strategic vision in managing the financial file Of the country ».   LINK