Al-Zaidi to inject $3.5 billion into the market

According to Kurdistan Press, Mansour Baeji, an Iraqi MP from the "Ibadani and Development" faction, announced that Ali Zaidi has close ties with the US Treasury and plans to inject $3.5 billion into the market in the coming days to stabilize the exchange rate in the market. He emphasized that Zaidi has promised MPs to stabilize the dollar rate within the range of 155,000 to 160,000 dinars. Baeji said in an interview with Al-Awli TV that the parliament will approve the budget based on 1,500 dinars for each dollar, but the prime minister must work to maintain the exchange rate parity in the market.According to him, the parliament and political factions will give the government a three-month or even longer period to bring the parallel currency market under control. The MP also said that the budget is based on daily exports of 4.3 million barrels of oil at a price of $58 per barrel. He added that if oil sales do not reach this level, the government will be forced to borrow, because "there is no other solution" and Iraq's total debt has now reached 43 trillion dinars.