TNT:
Tishwash: The dollar and electricity ignite tomorrow’s session.. Parliament complained about delaying the implementation of the budget
A member of the State of Law Coalition, MP Muhammad Al-Ziyadi, expressed, on Sunday, his discontent with the government’s failure with several files, most notably the failure to implement the budget and the failure to address the rise in dollar prices and the electricity crisis, stressing that Parliament is determined to get out of the agenda of tomorrow’s session and go to solve the crises.
Al-Ziyadi said, in a statement to Al-Maalouma, that “the representatives are determined to raise several questions inside the parliament dome, away from the paragraphs of the parliament’s agenda,” noting that “tomorrow’s session will be a heated session and a parliamentary revolution.”
He added, “The proposals that will be presented are related to not launching the budget for a moment, the issue of banks, and the seriousness of the Ministry of Finance and the Central Bank in addressing the continuing rise in the dollar exchange rate and its impact on the standard of living of citizens, as well as insisting on hosting the Minister of Finance to learn about the steps that the ministry is taking to reduce water scarcity, In addition to asking the government for what it has implemented from the government program, in addition to the hot and intractable file of electricity.
Al-Ziyadi explained that “these files are the challenges we face, and the parliamentarian must know what is going on in terms of solutions to them without limiting them to a small group of politicians and not caring about the people’s representatives,” noting that “we are not against the government, but we must know what has been achieved and what are the procedures to face the challenges of the necessary files.” Foremost among them is the issue of electricity, water scarcity, and the continued rise in the exchange rate of the dollar. End link
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CandyKisses: Economist: US Federal Reserve Behind Confidence in ‘Iraqi Dinar’ Collapse
Exclusive
Omar Al-Halbousi, an Iraqi expert in political economy, confirmed that “the decision of the US Federal Reserve to prevent 14 Iraqi banks from dealing in dollars, raised the number of private banks banned from dealing in dollars to 18 banks.”
Speaking to Sputnik, Omar Halbusi said that this “impacted a lot on the Iraqi dinar and caused a sharp decline in its value against the dollar, deepening the gap between the real exchange rate and the exchange rate on the black market.”
He added: “In addition to this, the lack of confidence of the citizen in Iraqi banks, which made citizens reluctant to deposit their money in banks, which constituted a second crisis for the government as a result of the decrease in the monetary mass available to the Central Bank and banks, which has made the government so far unable to implement the general budget.”
Al-Halbousi pointed out that the decision of the US Federal Reserve did not come as a surprise, but was preceded by a set of warnings and recommendations made by the Federal Bank of Iraq to the need to control the work of banks, prevent dollar smuggling, and stop the money laundering process, but the Central Bank of Iraq did not succeed in that, which made the Federal Reserve take this decision, which caused confidence in the Iraqi dinar.
The economist explained that the Iraqi government and the Central Bank have not yet directly disclosed the mechanisms to correct the path and protect the Iraqi dinar for a group of reasons, most notably the inability to control speculators, and the second reason is the association of banks to punish government political parties and personalities and armed factions, which caused the Iraqi government and the Central Bank of Iraq between the hammer of the Federal Bank and the anvil of the banks, which casts a shadow on the Iraqi dinar, whose losses will deepen with the days.
Al-Halbousi pointed out that the Iraqi dinar crisis will worsen, especially there are expectations of imposing sanctions on political figures, businessmen and traders, as well as a group of banks and exchange companies, which will lead to very large losses in the value of the Iraqi dinar to exacerbate the intertwined exchange rate crisis due to international interventions as well, and this means the possibility of a new collapse of the Iraqi dinar.
https://sputnikarabic.ae/20230730/اقتصادي-الفيدرالي-الأمريكي-وراء-انهيار-الثقة-في-الدينار-العراقي-1079574304.html
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