Iraqi News Catch up March 2nd  2022 International Monetary Fund warned Iraq of the "fragility" of its economic recovery

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International Monetary warns Iraq and announces its position on the dollar exchange rathe International Monetary Fund warned Iraq of the "fragility" of its economic recovery.

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The head of the IMF mission in Iraq, Tohir Mizorov, said in a press statement: “Policies aimed at containing inflation and its impact should take into account the fragility of recovery in Iraq and the long-term goals of diversifying the economy and strengthening the private sector. It is to avoid making the problem worse by adopting domestic policies that would increase inflation, for example through expansionary policies.”

He added, "The second priority is to implement policies that are carefully targeted to protect the most vulnerable groups. At the same time, it will be important to avoid any measures that could weaken Iraq's economic capabilities without addressing the problem. For example, measures that undermine the competitiveness of local producers and encourage imports will not contribute to Realizing the benefits of remembering the weak groups, if they exist at all, and this explains the scarcity of countries with a fixed exchange rate to raise the value of their currency in economic history, and for the same reasons, it would not be advisable for Iraq to do so.