MPs call to host Iraqi Finance Minister in parliament over the currency devaluation

Economy 11:50 AM - 2020-12-21

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A number of members of the Iraqi Council of Representatives submitted a formal request to question the Minister of Finance, Ali Allawi, because of the hike in the exchange rate of the dollar against the Iraqi dinar.

 

The MP for the Patriotic Union of Kurdistan, Hussein Narmo, said during a special statement to PUKmedia: "A number of members of Parliament submitted a request to question the Minister of Finance, Ali Allawi, on the background of the decision to raise the dollar exchange rate against the Iraqi dinar."

 

He added: "The decision to raise the exchange rate of the dollar against the Iraqi dinar by the Central Bank is a negative step and will greatly harm those with limited income and will have very large negative impacts on citizens."

 

He explained: "The Council of Representatives is heading towards questioning the Minister of Finance, and perhaps there will be an extraordinary session to conduct the interrogation process and discuss the reasons for this decision, because the government also set the exchange rate of the dollar in the general budget for the year 2021, 100 dollars compared to 145 thousand Iraqi dinars."

 

A number of members of the Council of Representatives announced that they would collect signatures to hold an emergency session (exceptional) on Wednesday at 1 pm, in the presence of Prime Minister Mustafa Al-Kadhimi, Minister of Finance Ali Allawi, and Central Bank Governor Mustafa Al-Jubouri.

 

They said that the session discusses the reasons for the decline in the exchange rate, the classification of banks, the fiscal policy followed, the Central Bank and the Ministry of Finance agreements with the International Monetary Fund, the conditions and obligations, the failure of government performance and the state’s inability to implement its government approach.

 

 

 

PUKmedia Exclusive