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Exchange rate management in Iraq Tqunmah factors in the study improved the value of Iraqi dinar | ||
| Iraqi Journal For Economic Sciences | ||
| Article 1, Volume 0, Issue 16, 2017, Pages 61-75 | ||
| Author | ||
| Dr. Ahmed Al-Wazzan | ||
| Abstract | ||
| The choice of exchange rate equilibrium accurate and realistic as the basis for it at the adoption of macroeconomic policy moving towards market mechanisms and openness towards the outside, and show empirical studies in many developing countries there is significant impact of the exchange rate in the economic performance of the state, the experiments show that countries that has adopted appropriate policies for the exchange rate and managed to preserve the value of equilibrium exchange rate, these countries were better able to attract foreign direct investment and was able to achieve higher rates of economic growth in the framework of a level of stability with improved their international competitiveness has followed Iraq for decades, long rate system fixed exchange so that became the Iraqi dinar value does not reflect the value of realism to him, and clearly emerged the phenomenon of multiple exchange rates and became the most business transactions are based on the exchange rate in the parallel market which were not stable, all of these conditions and others resulted in distortions in the price levels, and these distortions their effects on macroeconomic variables such as savings, consumption and investment and production ... as well as in the levels of inflation and unemployment was quick monetary authorities after April 2003 to take a number of measures relating to monetary policy aims to reach out to unify the exchange rate in Iraq and improve the value of Iraqi dinar, has been accompanied by with the implementation of a number of measures within the economic reform program adopted by the Iraqi government in agreement with the International Monetary Fund, and the basic features of this program include measures in the area of financial sector reform and the liberalization of interest rates, reduction of subsidies, removal | ||
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