[ad_1]
Reuters
The inhabitants of five Arab countries, Syria, Lebanon, Iraq, Yemen and Sudan are under the influence of a gradual deterioration of the local currency against the dollar, which contributes to high commodity prices and threatens to starve and crush the poor classes.
While Iraq and Sudan are trying to control the exchange rate of the dollar, without changing this from the poor living reality that has been affected of course, Yemen and Syria seem threatened by famine, while Lebanon continues to collapse due to popular protests.
The dollar exchange rate reached 10 thousand Lebanese pounds to one dollar.
On Tuesday, the Syrian pound recorded a new record deterioration in its value in the parallel market, reaching the threshold of four thousand against one dollar in a country where the conflict this month enters its tenth year, merchants told AFP.
In Yemen, Yemeni Prime Minister Maeen Abdul Malik warned on Monday that the continued collapse of his country’s currency heralded “famine.”
During a telephone conversation he had with United Nations Secretary-General Antonio Guterres, Abdul-Malik reviewed the difficult economic and humanitarian conditions Yemen is experiencing, and the urgent needs required to support the economy and stabilize the national currency, and warned that the continuing collapse of the currency heralds the occurrence of a “famine”. Efforts should be concerted to rectify it quickly.
In Iraq, the federal government decided at the end of 2020 to raise the value of the dollar against the Iraqi dinar from 1200 dinars per dollar to 1450, to cover the deficit in the 2021 budget that has not yet been approved.
The government decision from the Central Bank in particular contributed to high prices, especially foodstuffs, as Iraq relies on imports to secure its goods.
As for Sudan, the Sudanese currency has been fixed in the last two weeks at 376 pounds due to the policy of floating the pound recently carried out by the transitional authority after the exchange rate of the dollar deteriorated in a frightening way during the past six months from 150 pounds in August and continued to rise until it reached 420 pounds in a month. January 2021, which led to a crazy increase in the prices of consumer goods, which was reflected in the lives of citizens and led to many demonstrations due to high inflation.
Source: Agencies
[ad_2]
Source link