🚫 Iraqi Government Denies Any Plans to Devalue the Dinar Against the Dollar! 💵🇮🇶

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August 13, 2025 — Local Economic Update

Mazhar Mohammed Saleh, economic advisor to the Iraqi Prime Minister, firmly denied rumors about any intention to devalue the Iraqi dinar to boost liquidity. He emphasized:

Iraq’s exchange rate policy is stable and contractual between the Ministry of Finance and the Central Bank.
The dinar is strongly backed by foreign currency reserves from oil revenues.
Frequent exchange rate changes are “bad policy” and devaluation is seen as dangerous and inflationary.
The government aims to maintain a low, stable exchange rate to support economic stability, development, and investment.
No plans exist now or post-elections to change the dinar’s exchange rate.
The best solution to liquidity issues is improving financial system revenues, not manipulating the exchange rate.

📌 Key Quote:
"Manipulating the exchange rate is a bad and incorrect policy. The correct policy is to maintain stability to sustain development, investments, and plans." — Mazhar Mohammed Saleh