Raise price of dollar against Iraqi dinar and its impact on economy 11-17
Raise the price of the dollar against the Iraqi dinar and its impact on the economy
In the midst of crisis that beset the Iraqi economy, it triggered negotiations between the Iraqi government and the International Monetary Fund and the World Bank , Many questions among observers, the most important question of raising the price of the dollar against the Iraqi dinar.
At a time when talking about the issue of reducing the value of the Iraqi dinar to 1,500 dinars to the dollar us stand out many of the issues about the fate of the national currency and what are the implications on the lives of many Iraqi citizens?
As is known, is a reduction of the national currency of the country to increase foreign obligations denominated in the national currency and the high cost of production thus higher cost of sales both in the external or market local markets and shows the economy to further recession resulting in a high cost of living of citizens and increasing food prices, especially for which imports a large proportion of its production components is no doubt that reducing the rate of the national currency, if not through careful study takes into account all economic controls.
Economists believe that the reduction of the Iraqi dinar exchange rate against the dollar to 1,500 dinars will lead to a decline in the purchasing power of citizens by 30%, in addition to cases of exploitation and random case in market prices that add a further increase, under the current circumstances, where the limited income of the vast proportion of citizens as well to high rates of unemployment and poverty, as well as the difficult humanitarian conditions and Cairo experienced by the displaced.
As well as for those with fixed wages understanding they are affected but with a lot of behind the decline in the value of local currency, due to lack of purchasing power with the stability of their income and thereby reducing the ability of individuals to save and lack of purchasing power, which leads to uncertainty to currency and loss of confidence by making individuals rushing to get rid of than under the hands of the money to purchase goods and products.
In fact, the financial crisis faced by Iraq today, imposed on decision makers be found true and strict measures to confront the real dangers that lie in wait for the economy, especially as Iraq is facing many crises in addition to economic, there are political, security and social.
Has led not to follow the clear economic policy in Iraq because of corruption and neglect and the lack of security and stability brought Iraq to what it is today from the devastation of economic, political and social may arrive the country into a dark tunnel and thus be simple Iraqi citizen is the only one affected in this case, which resolved problems of the economy at its expense .