Today, Halim Salman, a researcher and writer, stated that the Central Bank’s management has been unsuccessful in finding solutions to prevent the decline of the exchange rate. Despite their efforts, their measures have not been able to prevent the fluctuation of the exchange rate, nor have they stopped traders from causing chaos in the dollar market. Salman has urged the Central Bank’s management to offer their resignations to Prime Minister Mohamed Shia Al-Sudani to avoid facing additional sanctions from the United States.
In an interview with “Jarida,” Salman stated that he has been closely monitoring the performance of the current administration of the Central Bank of Iraq. They made promises over eight months ago to control the price of the dollar, implement real reforms to the banking system, activate electronic payment points in all Iraqi cities, and crack down on currency smuggling and money laundering.
He stated that the management of the Central Bank, led by Governor Ali Al-Alaq, along with his deputy and several general directors, failed to suggest effective solutions to curb the depreciation of the exchange rate. Instead, they only presented a series of measures that caused further fluctuations in the exchange rate and did not address the concerns of those involved in trading the dollar.
He further stated, “The Prime Minister intervened personally to provide assistance and monitor the performance of the relevant departments to prevent the escalation of issues related to dollar transfers for trade and the smuggling of dollars across borders.”
Salman has requested that the management of the Central Bank, including its governor and general directors, offer their resignations to the Prime Minister. According to Salman, this is the first step towards reforming the Central Bank and the banking institution in order to comply with international standards and prevent further sanctions from the United States.