16 Hrs
Source:
الشرق الأوسط
Al-Zaidi supports dinar devaluation despite criticism
Under the slogan of confronting the financial crisis, Iraqi Prime Minister Ali Al-Zaydi defended the decision to devalue the dinar against the dollar, announcing that the government took this step after exhausting all other options due to the severe economic crisis, which has worsened as a result of oil export interruptions and the closure of the Strait of Hormuz, amidst an unofficial blockade. He confirmed that the government is aiming to increase the availability of hard currency and will inject it into the market despite criticisms. Economic experts, on the other hand, indicated that the decision was a difficult choice resulting from past mistakes and the depletion of public finances, with warnings about its negative impact on citizens' purchasing power.
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