17 Hrs
Source:
وكالة بغداد اليوم الاخبارية
Expert discusses why salaries can't be paid in dollars
Economic expert Nabil Al-Marsoumi clarified that the inability to pay employees' salaries in Iraq in dollars is due to the risk of depleting foreign reserves, which amount to approximately $76 billion, and limiting the Central Bank's ability to manage monetary policy. He pointed out that the adequacy of reserves is measured by their capacity to cover imports and external commitments. Financing salaries in dollars could consume around $10 billion per month, potentially leading to exchange rate conflicts and loss of monetary policy independence, in addition to high administrative and technical costs. Therefore, relying on the dollar for salary payments threatens economic stability and national sovereignty.
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