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The decision to reduce the exchange rate of the Iraqi dinar sparked a wave of tweets in which Iraqis strongly criticized the government’s decision, and the hashtag #Banks_Thrimans was posted on Iraqi Twitter accounts.
The Iraqi government had already reduced, on Saturday, the value of the official currency against the US dollar in the first measure of its kind in years, in conjunction with a suffocating financial crisis that devastates the country as a result of the collapse of oil prices .
The Central Bank of Iraq said in a statement that the new price of the dinar against the US dollar was set at 1,450 dinars instead of the previous price of 1,190 Iraqi dinars to the US dollar.
The economic expert, Abdul Rahman Al-Mashhadani, told Al-Hurra that the decision to devalue the currency will have negative repercussions on both the citizen and the economy.
He continued: “The devaluation of the currency by 20 percent, while the local market depends on 85 percent of its needs in imported goods, which means that prices will rise more than 20 percent and perhaps up to around 30 percent. hundred”.
The decision caused a stir in Iraq, despite promises by the Ministry of Finance that the exchange rate adjustment “will be unique and will not be repeated in the future”, in addition to the government’s attempt to reassure citizens and promise that the The decision will not affect groups of people who depend on local assets.
Iraqi activists have brought accusations against various parties and held them responsible for the deterioration of economic conditions in the country.
This tweet claimed that the Central Bank of Iraq was behind “the robberies that occur in the currency market.”
Pretenders of patriotism and reform must have a clear position on thefts that occur in the currency market by the central bank #Travel_banks pic.twitter.com/dCN3t0rCVT
– Zahraa (@ Zahraa_z90) December 19, 2020
Another thought that the government would receive, under this decision, a “quarter of the employee’s salary”, and said that prices would “rise rapidly” because the decision to reduce the dinar exchange rate came without planning, according to him.
If your salary in Iraq equals $ 900
With the new exchange, it will be approximately $ 680
It means losing about a quarter of your salary.
Which means that the government decided to take a quarter of his salary without announcing the reduction.
And because the reduction came quickly, without a national plan, prices will rise quickly and you will pay a quarter for gas.
The extra rent#Cost_WorldAmerica pic.twitter.com/X3rQO5qYYY– 🇮🇶✌🇮🇶 (@ _abeer__11) December 19, 2020
This tweet warned of a 100 percent price increase.
The governor’s decisions and the foreign exchange auction will significantly reduce the value of the Iraqi dinar against the dollar, which means that a commodity priced at 1,000 dinars can be converted to 2,000 or more.#Travel_banks#No_to target the dinar pic.twitter.com/5JyufK4NON
– mohmad alzamli (@ mohmadalzamli1) December 19, 2020
Mughard called for an end to the “great whales” that “devour Iraq’s money.”
That the great whales that devour Iraqi money, the Iraqis can, if they unite, end the corruption of these whales and those behind them that killed the Iraqi citizen #Cost_WorldAmerica pic.twitter.com/SAHqjZ3MUv
– Rafal Almosawy (@ rafola90) December 19, 2020
She described the tweet as “a new game to starve people to death.”
A new game to starve people and make them busy looking for their daily sustenance, while murderers and corrupt people enjoy the wealth and money of the country.#No_to target the dinar
– Eng.ayakhalid🦋 (@ayaakhaliddd) December 18, 2020
And this tweet went on to say that targeting the Iraqi dinar is “targeting the homeland and the life of the citizen” because “the dinar is a symbol of national sovereignty.”
The Iraqi dinar is a symbol of national sovereignty and deliberately reduces its monetary value by targeting the homeland and the life of the citizen. #No_to target the dinar pic.twitter.com/dYn7jKgPGX
– civileng (@ bravem84) December 18, 2020
One of them criticized the allocation of “billions in the budget for fun activities”, but did not explain its nature.
They are targeting the dinar, under the pretext of lack of money, and at the same time spending billions in the budget on fun activities to keep robbing people.#No_to target the dinar The first and last affected are the poor.#Iraq pic.twitter.com/yYcJ08cmbY
– Ibn Iraq 🇮🇶 (@ 68tMEH8Yb7hkAKT) December 18, 2020
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