Sairon denies ties to the dinar's devaluation

Shafaq News/ Sairon Alliance denied connections to devaluating the Iraqi Dinar against the U.S. Dollar, indicating that this issue is purely governmental.

A member of the coalition, MP Riyadh Al-Masoudi, said in a statement to Shafaq New Agency, "Raising the dollar's exchange rate was coordinated between the Ministry of Finance and the Central Bank of Iraq. It is an economic issue related to the financial and monetary policy of the country according to Articles 78 and 80 of the Iraqi constitution, which stipulates that the government is responsible for laying the country's financial policies, preparing budgets, and development projects. There are no links between Sairon alliance and the issue of dollar prices."

Al-Masoudi deemed accusing Sairon Alliance of controlling the dollar and currency exchange rates as legally-baseless political point-scoring by some parties.

"The Iraqi banking system is dilapidated, old, and devoid of monetary, economic, or financial aspects. The competent authorities must prepare effective economic plans and strategies to reform the banking system and raise the value of the Iraqi dinar against other foreign currencies."