Iraq’s central bank devalues dinar by 22 percent amid public anger ...Egypt

BAGHDAD (AP) — Iraq’s Central Bank on Saturday announced it will devalue the Iraqi dinar by over 20 percent in response to a severe liquidity crisis brought on by low oil prices, a measure that has sparked public outrage as the government struggles to cover its expenses. Riot police were dispatched outside the central bank headquarters in central Baghdad prior to the announcement in the event news of the devaluation sparked protests. A leaked draft of the state budget law for 2021 caused furore on the Iraqi street last week as it confirmed plans to devalue the dinar. The new rates represent a dramatic reduction from the previous official rate of 1,182 IQD. It is the first reduction in exchan

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