19 Hrs
Source:
الشرق الأوسط
Iraqi Markets Stagnation Amid Calm
The article focused on the repercussions of the Iraqi government's decision to devalue the dinar against the dollar, which was announced as part of efforts to control markets, combat inflation, and prevent monopolies. This led to the parallel market exchange rate for the dollar rising to around 1,630 dinars, compared to the official rate of 1,520 dinars, amid continued market stagnation and traders' concerns about future disruptions. The government reaffirmed that the decision was made within the context of a severe financial crisis, caused by declining oil exports and the closure of the Strait of Hormuz. Despite this, economic experts criticized the expansion of government spending beyond austerity measures, arguing that it exacerbates pressures on the impoverished segments of society. Additionally, some militant factions called on the Federal Supreme Court to challenge the decision, amid calls for increased media awareness and better-organized media coverage of this crisis.
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