TPC Member: moving the exchange rate is not within the council’s authorities



Altaghyeer – Aladdin Musa


TPC member, Jamal Idris al-Kinin, denied that the Council authorized the PM and finance Minister to take precautions to move the exchange rate and float the pound.


Al-Kinin said in a statement to Altaghyeer today, Thursday, that the council is coordinating and consensual and does not have any executive authority.


He added that they are against the policy of moving the exchange rate and devaluing the pound because it is an item of IMF dictates and it is not the right policy.


He continued: “ according to the recommendations of the economic conference, the exchange rate cannot be dealt with except with a package of measures, foremost of which is the presence of foreign exchange reserves at the Central Bank.


Al-Kinin stressed that if the step is taken without these measures, it will have catastrophic consequences, and prices will rise more and people will not be patient and will not bear these burdens.


He announced the request to the PM and Finance Minister to present measures and precautions at the next meeting to see wether they are sufficient or not.


On the issue of normalization with Israel, he said that with regard to the exchange rate or the issue of normalization, the objectors were not one person as was mentioned in some news.


He explained that with regard to normalization, a decision on it will be postponed to the Legislative Council.


Al-Kinin added that any form of dealing with the Zionist entity must be stopped until the Legislative Council is established, because if any normalization steps are taken now before the matter is presented to the Legislative Council, it will be a continuation of imposing the policy of fait accompli, “secretly or in public, this is totally rejected.”


He asserted that Hamdok did not say to TPC “normalization and floatation,”  is over without discussion.


It was reported that TPC authorized the PM and the Minister of Finance to take precautions to move the currency exchange rate.


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