Government adjusts exchange rate to safeguard stability
The government has affirmed that adjusting the Iraqi dinar's exchange rate aims to safeguard financial and monetary stability. The Prime Minister's Advisor for Financial Affairs clarified that these measures are precautionary steps to address the repercussions of regional and international crises, including potential impacts from war and disruptions in oil exports. The goal is to maintain Iraq's capacity to finance foreign trade and support the general budget. He also emphasized that the monetary and financial policies, including customs and tax measures, are designed to prevent the effects of external shocks from being passed on to consumers, while enabling the government to manage resources in a way that ensures market stability and the availability of essential goods without placing undue burdens on society. In conclusion, it was explained that these actions aim to build a financial and monetary safety margin to protect the economy from external challenges.
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