KTFA (Don961 & Samson)

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Don961: Representative Finance: The central bank is responsible for changing the exchange rate

Posted 35 seconds ago   News source / Independent Press Agency

The Independent / – The representative of the  Parliamentary Finance Committee, Ahmed Al-Saffar, said that the desired goal of changing the exchange rate of the dollar against the Iraqi dinar has not been achieved, indicating that what is being said about the interference of political forces to restore the exchange rate to what it was before changing something outside the powers of the blocs And Parliament.

Al-Saffar added in a televised interview, that determining the exchange rate is the exclusive competence of the Central Bank of Iraq and it is not permissible to interfere in the bank’s work.

He stressed that setting the new exchange rate was based on a government decision and negotiations with the World Bank.

Regarding the results of the devaluation of the currency, Al-Saffar commented by saying:The direct effects of changing the exchange rate caused market inflation and a price increase of 20-25%, because it was assumed that citizens would turn to local goods after the imported goods rose, and this means that the desired goal has not been achieved.

He continued: But the problem is that there is no competition that favors local goods until the change in the exchange rate achieves significant local results.

Regarding the existence of a political move to restore the exchange rate of the dollar to before a change decision, the representative of the Parliament stressed that what is said about the intention of political forces to intervene to determine the exchange rate is talk outside their powers, because it is exclusively within the government’s authority and will not be permitted.

The post Parliamentary Finance: The Central Bank Is Responsible for Changing the Exchange Rate appeared first on The Independent Press Agency.   link

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Samson:  Parliamentary signals to settle Kurdistan’s share in the budget and determine the date for its passage

28th February, 2021

On Sunday, the Al-Fateh Parliamentary Bloc confirmed the vote on the General Budget Law for 2021, at the end of this week, while it indicated that the Kurdistan Region’s share would be decided during the next two days.

Al-Fateh deputy, Fadel Al-Fatlawi, said in an interview with Shafaq News, that “meetings and negotiations are still continuing between the political blocs and the Kurdish delegation to settle the share of Kurdistan Region in the General Budget Law for 2021.

Al-Fatlawi added, “There are intensive meetings that will take place next Tuesday to resolve the Kurdistan Region’s share in the budget law.” He pointed out that “the vote on the current year budget in the House of Representatives, will be at the end of the week, specifically next Thursday.”

Last December, Baghdad and Erbil reached an agreement on the financial budget, providing for the region to deliver 250,000 barrels of oil per day, and half of the revenues from border crossings and others to the federal government, in exchange for a share in the budget of 12.6%.

The agreement was included in the draft budget, but Shiite political blocs in Parliament rejected the agreement, which impedes its passage in Parliament until now.     LINK

Another Mailman:  I like the part that says “specifically next Thursday”! You don’t usually see them say things like that.

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