Official reassurance about Iraq reserves after Trump threatens sanctions

Official reassurance about Iraq reserves after Trump threatens sanctions

1/6/2020 18:45

Official reassurance about Iraq reserves after Trump threatens sanctions[Baghdad-Where]
The Central Bank of Iraq reassured the Iraqi people about Iraq’s dollar reserves.
The Central Bank of Iraq confirmed its continued pumping the dollar into the market, while warning of rumors that there are problems impeding the flow of the dollar.

The Director General of Financial Operations and Administration at the Central Bank, Mahmoud Dagher, said today, Monday, that “Iraq’s reserves and external assets are obligated in the custodian of these deposits, bonds, cash or gold to meet them on demand.”

He pointed out that “the flow of money to cover imports and the needs of the dollar is reassuring, and there is no real justification for fear regarding economic changes.”

He added that “Iraq’s reserves are in all countries of the world and not only the Federal Reserve,” noting that “the central banks do not deal with reactions from contradictions or tensions.”

Dagher pointed out that “the central bank continues to pump the dollar to the market on demand, and there is no problem hindering the flow of the dollar to the markets.”

The assurance for the Central Bank of Iraq comes after US President Donald Trump threatened, on Sunday, to impose sanctions on Iraq after the House of Representatives demanded that US forces leave the country.

“We have an air base there that is exceptionally expensive,” Bill Trump told reporters on the presidential plane. “It took billions of dollars to build it long before I came, and we will not leave unless they pay us their costs.”

Trump said that if Iraq demands the departure of US forces and this is not done on a friendly basis, “we will impose sanctions on them that they have never seen before, and Iran’s sanctions will be a small thing next to them.”