Iraq’s four presidencies discuss economic challenges
ERBIL, Kurdistan Region - The four presidencies of Iraq met on Saturday to discuss the country’s economic challenges and measures taken to address them.
Iraqi Prime Minister Mohammed Shia’ al-Sudani hosted Iraqi President Abdul Latif Rashid, parliamentary speaker Mohammed al-Halbousi, and the head of the Supreme Judicial Council Faiq Zidan.
“The meeting focused on discussing the major political, economic, and social developments at the national level and several pressing issues and their effects on the country,” read a statement from Sudani’s office.
The statement added that the four presidents “also discussed the major economic challenges and the measures taken to address them in a way that ensures protection for the poor and vulnerable segments of society.”
The Iraqi dinar has lost nearly 20 percent of its value in recent months, attributed to corruption, smuggling dollars into Iran, and pressure from the United States.
The depreciation of the dinar’s value has strongly impacted a majority of Iraqis who receive their salaries in dinars that are worth less in the market where the prices of many imported goods have increased. In turn, retailers say they have to raise prices since they buy from wholesalers using dollars.
Halbousi on Saturday said that measures taken by the central bank and the government will bring the exchange rate back to normal.
Ahmed al-Sahaf, spokesperson for Iraq's foreign ministry, told Rudaw on Friday that an Iraqi delegation, headed by Foreign Minister Fuad Hussein, will discuss the unstable dinar-dollar exchange rate with US officials in Washington in the next few days.
Sahaf added that that the government has taken several steps to restore the value of the dinar, including cracking down on places that smuggle the dollar out of the country.
Iraqi Prime Minister Mohammed Shia’ al-Sudani hosted Iraqi President Abdul Latif Rashid, parliamentary speaker Mohammed al-Halbousi, and the head of the Supreme Judicial Council Faiq Zidan.
“The meeting focused on discussing the major political, economic, and social developments at the national level and several pressing issues and their effects on the country,” read a statement from Sudani’s office.
The statement added that the four presidents “also discussed the major economic challenges and the measures taken to address them in a way that ensures protection for the poor and vulnerable segments of society.”
The Iraqi dinar has lost nearly 20 percent of its value in recent months, attributed to corruption, smuggling dollars into Iran, and pressure from the United States.
The depreciation of the dinar’s value has strongly impacted a majority of Iraqis who receive their salaries in dinars that are worth less in the market where the prices of many imported goods have increased. In turn, retailers say they have to raise prices since they buy from wholesalers using dollars.
Halbousi on Saturday said that measures taken by the central bank and the government will bring the exchange rate back to normal.
Ahmed al-Sahaf, spokesperson for Iraq's foreign ministry, told Rudaw on Friday that an Iraqi delegation, headed by Foreign Minister Fuad Hussein, will discuss the unstable dinar-dollar exchange rate with US officials in Washington in the next few days.
Sahaf added that that the government has taken several steps to restore the value of the dinar, including cracking down on places that smuggle the dollar out of the country.