Page 10 - aruba-today-20190911

A10 WORLD NEWS
Wednesday 11 september 2019

Syrian pound hits record low, setting off hike in prices

By ALBERT AJI have been urging the gov-
Associated Press ernment to intervene to
DAMASCUS, Syria (AP) — control the market.
The Syrian pound hit a re- “The attack on the pound
cord low against the dol- is another act of war,” said
lar recently before making al-Baath newspaper, the
some gains Tuesday, set- mouthpiece of the ruling
ting off a hike in prices in Baath party, in an editorial
the war-torn country where Tuesday, adding that Syr-
a large percentage of the ians want the government
population already lives “to play its role in facing
under the poverty line. the holders of the weapons
The pound was trading of starvation and impov-
at 660 to the dollar after erishment,” a reference to
reaching 690 pounds to speculators.
$1 on the black market The pro-government Al-
last week — lows never Watan newspaper said ru-
reached before. The offi- mors on social media that
cial rate has remained sta- the dollar would rise soon
ble at 434. was behind Sunday’s fall of
The collapse of the Syrian the pound.
pound is blamed on tough Al-Watan said the pound
Western sanctions against This January 13, 2010 file photo, employees stack Syrian currency in the Central Bank, in Damascus, noticeably improved on
the government of Presi- Syria. Monday and increased by
dent Bashir Assad, specula- Associated Press 4.5 % to reach 663, attribut-
tion, a drop in remittances ing countries, where trad- In some shops, basic items sociated Press that prices ing the improvement to the
from Syrians living abroad ers buy and sell currency in disappeared from shelves have risen between 15% government’s intervention
and the fact that many Syr- order to make quick profits only to reappear later with and 20% recently. “Every- “without pumping even
ians are buying up dollars because of changes in the higher prices. thing is available but prices one dollar into the market.”
to preserve their savings. exchange rate. Demand for even basic are high,” he said. On Monday, the Cabinet’s
When Syria’s civil war be- The rise in the exchange foodstuffs has gone down “I used to sell one kilogram economic committee held
gan in March 2011, a dollar rate has resulted in prices of because people are only of sugar at 300 pounds, but a special meeting to take
was valued at 47 pounds. basic commodities, mainly buying essential items. on Sunday the price rose to action to ensure basic
Speculation is not uncom- sugar and rice, changing Abboud Mardini, owner of 375 pounds,” he said. commodities for people
mon in Syria and neighbor- from morning to evening. a mini market, told The As- Syrians on social media and control prices.q

Pakistan: Risk of ‘accidental war’ with India over Kashmir

By JAMEY KEATEN blackout that has since been partially lift-
Associated Press ed in most of Jammu and Kashmir, which
GENEVA (AP) — Pakistan’s foreign minis- India’s Parliament voted last month to
ter warned Tuesday that India’s “illegal downgrade from a state into two feder-
occupation” of Muslim-majority Kashmir ally administered territories.
could drive the nuclear-armed countries “Once the curfew is lifted, the reality
“into an accidental war.” comes out, the world will wake up to the
Pakistani Foreign Minister Shah Mahmood catastrophe that is underway right now,”
Qureshi accused India at a session of the Qureshi told reporters.
U.N.-backed Human Rights Council of Pakistan also issued a statement on be-
turning Kashmir “into the largest prison on half of about 60 nations calling for re-
this planet.” He alleged some Kashmiris spect of human rights, an end to the
were tortured and raped in the region curfew and communications shutdown Pakistan’s Foreign Minister Shah Mehmood Qureshi leaves af-
claimed by both Pakistan and India. in Kashmir and “unhindered access” for ter a statement during the 42nd session of the Human Rights
The Indian government imposed a se- international media and human rights Council at the European headquarters of the United Nations in
Geneva, Switzerland, Tuesday, Sept. 10, 2019.
curity lockdown and communications groups in Kashmir.q Associated Press