Iraq’s Prime Minister Mohamed Shia al Sudani has dismissed the governor of the Central Bank on Monday after issuing a series of measures to try to stabilize the exchange rate between the dinar and the dollar, amid a severe economic crisis in the country.
According to reports carried by the Iraqi television channel Al Sumaria, Al Sudani has appointed Ali Mohsen al Alaq to replace Mustafa Majaif as head of the Central Bank of Iraq.
He has also appointed Bilal al Hamdani as the new head of the Commercial Bank of Iraq after ordering the early retirement of Salem Jauad al Chalabi. Al Sudani has promised since his arrival to power to stabilize the country’s economic situation.
Iraqi Foreign Minister Fuad Husein said last week in statements to the Kurdish TV channel Rudaw that an Iraqi delegation will visit the United States in February to discuss the fluctuations in the exchange rate with the dollar.
The Central Bank of Iraq announced in December 2020 a devaluation of the currency to face the liquidity crisis, although the depreciation of the dinar was a setback for the population, which faced a rise in prices and an increase in the standard of living.
Source: (EUROPA PRESS)
