Economic Reform methodology and Justification the Foreign Currency Sale window is a model
Abstract
Nations resort to the approach of reform after the winds of absurdity and corruption burden them, and manifestations of weakness and humiliation result from it, and because it is the decisive tool in shortening civilizational backwardness, restructuring the economy, and correcting imbalances and distortions that would create a future and sow hope in the hearts of the members of society.The open market operations through the foreign currency auction to influence liquidity levels and achieve stability through the sterilization mechanism are expensive and very costly and cause great financial waste through the gap in the approved official dollar sale pricing and the parallel price circulating in the market, as it reached its peak in 2012 and 2013, and it was ( 3,210,824) million dinars and (3,513,246) million dinars, respectively, and from here the research problem was summarized in the question: Does the currency auction contribute to the formation of financial waste and forms of corruption? The study aimed to identify the concept of reform and to diagnose the arguments and justifications that motivate the achievement of reform, using the model of the foreign currency auction in forming financial waste as it constitutes a form of corruption.The research started from the hypothesis that there is a significant correlation between the foreign currency window and the achievement of financial waste. The research concluded with a number of conclusions indicating that dollar sales in the foreign currency sale window indicate a waste of financial resources in a large way through the gap in the official dollar sale pricing and the parallel price. In the trading market, it reached its peak in the years (2012 and 2013), when it constituted (3,210,824) dinars and (3,513,246) dinars, respectively.The study reached a number of recommendations, the most important of which is that there is no value for an objective diagnosis in drawing the future of the Iraqi economy unless the economic policy is reformed with its pillars by developing a clear intellectual approach that will get Iraq out of its developmental crisis and to correct its imbalances and the existence of a real national will to work for that reform.
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