Al-Asas Iraqi Coalition Backs Government Measures to Address Financial Crisis

Iraq’s Al-Asas Iraqi Coalition has voiced support for government measures aimed at containing the country’s financial crisis and preventing further economic deterioration, describing the adjustment of the dollar exchange rate as a less damaging option than other available alternatives under current conditions.

In a statement, the coalition said ongoing economic challenges, the closure of the Strait of Hormuz and the suspension of oil exports require political cooperation to help the government overcome the crisis. It also called for combating currency speculation and corruption, recovering illicit funds, establishing a generational fund to finance development projects, and ensuring the continued payment of salaries and essential state expenditures, alongside the delivery of food rations.

The coalition further urged stronger market oversight to limit the impact of the exchange rate adjustment on citizens and protect their purchasing power.