RCD Organizes Symposium on Dinar Exchange Rate Valuation

The seminar began with an address by Dr. Hassan Latif Al-Zubaidi, Director of Al-Rafidain Center for Dialogue (RCD), who said, "We hope that your contributions will illuminate the various aspects of the potential economic, financial, and commercial effects of revaluing the dinar exchange rate." Following his remarks, a series of research papers were presented by:
1. Dr. Ammar Hamad Khalaf al-Ethawi: Deputy Governor of the Central Bank of Iraq for Technical Affairs.
2. Dr. Sawsan Karim al-Jabouri: Dean of the College of Administration and Economics, University of Al-Qadisiyah.
3. Dr. Abdul Hussein Jalil al-Ghalibi: College of Administration and Economics, University of Kufa.
4. Dr. Samir Fakhri Ni'ma: Dean of the College of Administration and Economics, Nawroz University, Duhok.
5. Dr. Ahmed Hussein Battal al-Ani: College of Administration and Economics, University of Anbar.
Dr. al-Ethawi addressed the strategic effects of revaluing the exchange rate through three main points. First, he explained the justifications for the change. Second, he outlined the expected positive impacts on the economy, such as increasing the foreign reserves of the Central Bank. Third, he discussed the requirements for enhancing the gains from the exchange rate change, namely the necessity for other ministries to fulfill their natural roles in implementing the recommendations of the "White Paper," such as providing appropriate support to the agricultural and industrial sectors and controlling border crossings.
Next, Dr. Sawsan al-Jabouri discussed the exchange rate itself, its mechanisms, systems, and how it is determined, before examining the developments of the Iraqi dinar's exchange rate and the consequences of its fluctuations.
Dr. al-Ghalibi researched the commercial effects of revaluing the Iraqi dinar. He stated that Iraqi trade is characterized by a high concentration of exports in a single commodity: oil. Following him, Dr. Fakhri addressed the financial effects, emphasizing that the Iraqi economy faced two types of imbalances after the COVID-19 pandemic: external and internal. This included a severe and continuous deterioration in the current account to GDP ratio, reaching a deficit of approximately 20%.
Finally, Dr. Ahmed Battal investigated the social effects of the revaluation, summarizing them in relation to inflation and projected unemployment rates.
The seminar, which was moderated by the economic expert Dr. Kamil Alawi Kadhim, was distinguished by its very broad attendance from various specializations and at the political, scientific, and societal levels.
