Newspaper: US Treasury cut off financial transactions with the Central Bank over the past summer

Newspaper: US Treasury cut off financial transactions with the Central Bank over the past summer

Tuesday 3 November 2015 | 19:35

Newspaper - US Treasury cut off financial transactions with the Central Bank over the past summerBAGHDAD / translation / .. expands global media attention, especially the US and the Iraqi economy and the resulting recent data which turned in a record time of one of the richest countries in the world and the largest austere state budgets to suffer indebted to pay off its obligations to its institutions.

In this context, the newspaper “Wall Street Journal,” the US took it upon been obstructed by the launch of an investigation by, resulted in the disclosure of the evidence for the US officials at the US Treasury Department to cut off financial dealings all with the Central Bank of Iraq over the past summer, as a result of recent get the evidence to prove the channels Iraqi corrupt transfer of such funds to other parties diagnosed as Iran and another part to Daash.

Where reported the newspaper in their investigation, citing US officials certificates did not contribute, that a meeting was held in Istanbul, Turkey secretly collect between Americans and other Iraqi officials, which revealed the existence of these channels which convert US money that link to the Central Bank of Iraq within the daily financial transactions to Iran, at the time was suffering its international economic sanctions, it’s the words of the newspaper, which has damaged the Iraqi economy and pushing him to the brink of the abyss, which has not recovered from it even came the economic crisis of oil, which found him weak and ended his ability has not recovered from it to now.

This comes at a time when the current Finance Minister, “Hoshyar Zebari,” stressed that his ministry strict measures to curb the US currency leakage has been taken, which suffers from severe difficulties because of the extent of corruption and the fact that the Iraqi economy is based on the financial liquidity of paper as he put it.

Recalls that the investigation has confirmed that the causing the current financial crisis part is the failure of the Iraqi Central Bank rotate the US money coming to him within the commodity exchange, which is dominated by oil transactions, but sent through informal channels to Iran, causing a large gap in the rate of exchange Trade between the two countries, ended by creating a hole where the Iraqi economy fell with the first bump over it, saying that the proportion of financial exchanges between the Central American Bank of New York and his Iraqi counterpart had reached 13.66 billion dollars, also cited the report of the Iraqi parliament, seen by the newspaper.

He said the investigation into the nature of these channels to confirm that US officials did not discover the mechanism only recently, where deliberately parties are corrupt in the Iraqi government and the World Bank to bring institutions officially registered financial exchange you are buying the US dollar through the auctions, to his way then to Iran and Daash, depending on the nature Enterprise and corrupt party that pushed her toward the auction.

The investigation also confirmed that the period in which the Iraqi economy incline truly has begun, while the US government sent a note to the Iraqi counterpart demanding the prevention of Iranian banks, financial institutions doubtful be associated with them and Bdaash, from participating in the auctions, which has not been heeded, where it came from US action to prevent subsequent Tsidiratar to the Central Bank of Iraq, suddenly, creating panic in the Iraqi financial circles, and in the end caused the collapse of the financial exchange between the dollar and the dinar ratios.

The newspaper, that the problem has been solved recently after a number of US officials from the Treasury Department, including Assistant Secretary for combating the financing of terrorism in the Treasury Department, “Daniel Klazer” visited Baghdad and meeting with their counterparts there, including the Governor of the Central Bank of Iraq “on the Keywords” which He agreed to US conditions after the nearing of the Iraqi cupboards on the force of the dollar, where rents US Treasury companies, “Ernst, Young” to control Iraqi auctions, and has then to send US $ 500 million on the sixth of January, followed then payments on the week.

As Klazer said during an interview by saying, “From the perspective of those involved combating the financing of terrorism, never concerns us get financial crisis in Iraq because of the shortage of the dollar,” while the issue is not fully resolved so far, as reported newspaper also citing its own sources, The US administration had met in the second month of October last first to look at the problem and find a final solution, without having to reach a decision and AVI fact that some of these financial institutions linked to Iran belonging to politically influential people in the government Alaracah.anthy 5