Iraqi News Early Wednesday AM 3-9-22
Iraqi News Early Wednesday AM 3-9-22
TLM724 Administrator BondLady’s Corner
Al-Fateh Alliance to / NINA /: The House Of Representatives Will Discuss The Possibility Of Changing The Currency Exchange Rate At This Time
Tuesday 08, March 2022 14:37 | political Number of readings: 198 Baghdad / NINA / - The Al-Fateh Alliance bloc revealed the timing of changing the currency exchange rate in the Federal General Budget Law of the Iraqi state.
The head of the coalition bloc, MP Abbas Al-Zamili, said, in a statement to the National Iraqi News Agency ( NINA ), that "the House of Representatives discussed with the Minister of Finance and the Governor of the Central Bank the repercussions of changing the exchange rate and the increase in global oil and food prices, but some of the answers of the Minister of Finance did not generate full convictions of the deputies." Especially with regard to the difference in the financial deficit, the payment of the ruling expenditures, the dues of farmers, and the treatment of unemployment.
He explained, "There is no clear government vision regarding the current and previous financial and economic situation, due to many overlaps, including oil and non-oil ones."
He added, "The House of Representatives is determined to address the repercussions of changing the exchange rate during the coming period, as we cannot now reduce the price, but it is possible to address the repercussions of changing the price that resulted in the previous stage," noting that "the current year 2022 budget will be spent on the 1/12 ceiling, which means The current exchange rate is the same and cannot be changed without a purely governmental decision, as happened in the year 21 when it was approved by the government and the governor of the Central Bank.”
The head of the Al-Fateh Alliance Parliamentary Bloc said, "Next year 2023 there will be a discussion about the possibility of changing the currency exchange rate, but according to international oil prices and government expenditures, especially since Iraq suffers from a significant increase in expenditures." / End 5 https://ninanews.com/Website/News/Details?Key=961864
A Legal Expert Reveals Loopholes That Allow An Appeal Against The Decision To Raise The Dollar Exchange Rate In The Budget
Tuesday 08 March 2022 16:01 | economic Number of readings: 148
Baghdad / NINA / - Legal expert Ali Al-Tamimi identified, today, Tuesday, constitutional violations by the decision to raise the dollar exchange rate against the local currency, allowing the possibility of appealing this decision in the country’s financial budget bill in 2022.
He said in a statement, “The increase in the dollar exchange rate in The budget law is in violation of the constitution and the charter of the international covenant, and this decision can be challenged and returned to the government by Parliament, and the budget law is not legislated.
He explained that "the rise in the exchange rate of the dollar to 1450 dinars violates articles 30 and 31 of the Iraqi constitution, which require the state to provide a free, decent life and appropriate income. United Nations commitment.
The legal expert also indicated, “The Central Bank Law by virtue of its Law 56 of 2004 is an independent body under Article 3 of this law and also the instructions of the Central Bank for the year 2017, and therefore it is he who determines the exchange rate and if there is an increase in the price, it is necessary to control market prices and prevent Inflation will make poverty even poorer.
He continued, "This law, i.e. the budget law, can be challenged if it is legislated by Parliament before the Federal Court. Parliament can not approve the legislation of this law and return it to the government for amendment because Parliament can do so constitutionally as it represents society in accordance with Article 61 of the Constitution as well as Article 13 of the Administration Law." Finance 6 of 2019".
Earlier today, the Federal Supreme Court (the highest judicial authority in Iraq) postponed hearing the case for restoring the dollar exchange rate to its predecessor until March 14th./End of 8
https://ninanews.com/Website/News/Details?Key=961885
Deputy: Changing The Exchange Rate Does Not Come With Political Speeches
Political | 03:32 - 09/03/2022 Special - Mawazine News, the State of Law coalition confirmed, on Wednesday, that changing the dollar exchange rate does not come with political speeches.
The representative of the state of law, Thaer fearful, said in an exclusive interview with the agency (Mawazine News), that the issue of changing the dollar exchange rate is purely scientific, because any country exposed to an economic crisis resorts to solutions, including changing the exchange rate, internal or external borrowing, or increasing invisible taxes and others.
He added, "The exchange rate cannot be changed with a political discourse, and the Federal Court has the right to intervene in this file unless economic matters arise in the country, where there are economic variables." Ended 29/R77 https://www.mawazin.net/Details.aspx?jimare=186760
To read more current and reliable Iraqi news please visit BondLady’s Corner: