Iraq Pharmacists Union warns of exchange-rate change’s impact on drug prices
The union urged the government to maintain the exchange rate used for medicine import remittances to avoid a seismic increase in drug prices and harm to vulnerable groups.
The Iraqi Pharmacists Union warned on Thursday of the repercussions of changing the dollar exchange rate on the prices of medicines and medical supplies, calling on the government to keep the current exchange rate for remittances used to import medicines, supplies and the raw materials involved in their manufacture.
In a statement, the union said that changing the exchange rate would have significant economic, financial and social effects on the healthcare sector, and could lead to paralysis of the drug-pricing system that is based on an exchange rate of 1,320 dinars per dollar when calculating the retail selling price for citizens.
It called on the government, the Council of Representatives, the Central Bank and all concerned authorities to take measures to protect patients and citizens from the burdens of rising drug prices, particularly the elderly, pregnant women, children, people with chronic illnesses, cancer patients and those with intractable diseases.
The union affirmed that overcoming the financial crisis and its repercussions can be achieved through an effective fiscal and economic policy linked to a work plan and clear measures and a carefully considered timetable, ensuring the required objectives are met without causing crises from which citizens would be the greatest sufferers.
Yesterday, Wednesday, the Central Bank of Iraq announced it had changed the official exchange rate of the Iraqi dinar against the US dollar to 1,520 dinars per dollar instead of 1,320 dinars per dollar, which prompted angry public reactions.
