Parliament Speaker: Exchange Rate Modification Decision Is Completely Irreversible

Speaker of Parliament Haibat Al-Halbousi affirmed on Thursday that the decision to amend the exchange rate is completely final and irreversible, pointing to full political consensus supporting this measure. Speaking during a parliamentary session, Al-Halbousi welcomed Prime Minister Ali Falih Al-Zaidi to the assembly to clarify the operational imperatives and reasons behind adjusting the foreign currency price, emphasizing that changing the rate is definitive and backed by legislative leaders. Concurrently, Prime Minister Ali Al-Zaidi stated during the meeting that his cabinet had faced three challenging choices, including dispersing employee salaries every 45 days instead of monthly. He indicated that the previous margin between currency rates had been primarily captured by financial speculators. The discussions followed a meeting between the parliamentary presidency, heads of legislative blocs, and the Prime Minister later in the evening to address critical political developments, especially the rising currency rates, following the Central Bank's decision establishing the new exchange rate at 1,520 dinars per dollar.