Iraqi Dinar Discussion Board

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Saleh: Seeking to strengthen exchange rate

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Mehdi Hafedh, confirms that the economic performance of the Iraqi complain about the vulnerability of

The former Planning Minister Mehdi Hafedh, Iraq's economic performance to complain about the vulnerability of the declaration, calling the event continued to lower inflation rates as one aspect of this vulnerability.

Hafiz said in a press release today, Tuesday, the publication that he believed that real inflation is still high in the form of what is said about the reform of monetary policy has been in doubt is widespread.

He pointed out that a state of conflict between the prosecution down drastically in the inflation rate and the realities of the local market, saying that monetary policy in the country do not conform with the requirements of the economy and the current conflict with the requirements of promotion of the private sector, since the case showed that the monetary policy followed Nfrt the private sector, What led to a significant decline in the volume of banking facilities.

Chancellor, the Central Bank of Iraq in the appearance of Mohammed Saleh, said that the bank seeks to strengthen the value of Iraqi dinar and the strengthening exchange rate to become more able to absorb inflationary pressures, pointing out that the bank depends on the approach to maintaining the external value of the Iraqi dinar to reduce the price of imported goods.
Saleh said in a press release today, Tuesday, the food basket that includes 63 to 70 percent of the consumer price index, note that 80 to 90 percent of the country's needs of food imported from abroad and thus, pushing the global inflation on the domestic market.

He explained that the possibility of reducing inflationary situation depends primarily on the ability to activate and increase capital spending because of its impact on the promotion of local production activity.

The benefit of that recent inflation indicators show that the rate was 14 percent, a result of the actions adopted by the local monetary authority.

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