KTFA (Don961)

Don961: Member of Parliamentary Economy: 45 trillion dinars “chunky” in Iraqi homes

Localities 07/23 2020 12:40 610 Editor: am     Baghdad today – Baghdad

Member of the Parliamentary Economic Committee, Deputy Ali Al-Lami, Thursday (July 23, 2020), revealed the existence of 45 trillion Iraqi dinars chunky in Iraqi homes.

Al-Lami said in an interview with (Baghdad Today), “The fact that many people may not know is that 50% of the money, which is estimated at 45 trillion dinars, is chunky in Iraqi homes, and this is a big mistake in the economic dimension, because the presence of that money within the circle of banks and markets will lead To rebound, move and tackle many negatives. ”

He added, “The people’s lack of confidence in government and private banks, the recent mistakes, and the declaration of some of them bankruptcy and the loss of their deposits led to the emergence of a reluctance to put their money in banks, and their hoarding in homes, despite the fact that their presence in banks is very important, and this is what all countries of the world are working on. By ensuring the presence of the largest percentage of liquidity in government or private banks. ” LINK

Don961:  Study of the International Monetary Fund: the hegemony of the dollar will exacerbate the economic impact of “corona”

2020-07-22  Yassin Iraq: Follow-up

A study by the International Monetary Fund revealed the impact of the US dollar’s dominance in trade that could lead to an increase in economic deterioration due to corona.

The study indicated that the dollar’s dominance in trade and finance in the world can exacerbate the economic impact of the Corona epidemic, as strengthening the strength of the dollar will lead to a decline in trade and economic activity more in the short term.

According to international agencies, the study suggested that developing countries would not be able to take advantage of the weakness of their national currencies to stimulate the economy because of the export prices in dollars.

Thus, the weakening of the currencies of the countries against the dollar leads to higher prices for imported goods and consequently a decrease in demand for them.   LINK