Top Iraqi officials discuss economic challenges

ERBIL (Kurdistan 24) – Iraqi Prime Minister Mohammed Shia' Al Sudani on Saturday chaired a meeting with the President of the Republic of Iraq, Abdullatif Jamal Rashid, the Speaker of the Council of Representatives, Mohammed Al-Halboosi, and the President of the Supreme Judicial Council, Judge Faiq Zidan, according to a readout from the Media Office of the Iraqi Prime Minister.

Several pressing issues were discussed during the meeting, including political, economic, and social developments at the national level, the readout added.

The progress in the government program and how it responds to the Iraqi citizens' aspirations and demands for public services were also addressed in the meeting, per the readout.

The officials highlighted the major economic challenges and measures that are being taken to protect the poor and vulnerable communities, according to the readout.

Although the official exchange rate has been fixed at 1,470 dinars against the US dollar, the local currency was trading up to 1,600 to the greenback on local markets.

The instability in the value of the exchange rate has caused a public outcry, fearing the volatility will drive prices of commodities up, in an economy heavily dependent on imports.

However, economists argue that the currency depreciation is due to tightening measures on international transfers, some accuse Washington, particularly those backed by Iran, to have played a role in the roller coaster.