Economist: Joining BRICS is one of the solutions to diversify sources of hard currency
Economist: Joining BRICS is one of the solutions to diversify sources of hard currency
9-28-2023
Information / Baghdad…
Economic affairs researcher Hisham Al-Baydani explained that Iraq’s accession to BRICS is one of the solutions to diversify the sources of foreign currency within the country and be freed from American restrictions imposed, especially on the dollar.
Al-Baydani told Al-Maalouma, “Iraq must be freed from the restrictions imposed by Washington on its sources of foreign currency, especially after the hints and statements of the American ambassador in Baghdad regarding more restrictions on the movement of the dollar.”
He added, “The American restrictions imposed on Baghdad caused exchange rates to fluctuate, which affected citizens’ transactions in general, especially since there is demand for foreign currency in the local market.”
He stated that “joining BRICS may be one of the solutions that could be a way out for Iraq, which is rich in oil resources, but is governed economically by a foreign financial policy imposed by the American administration on the Iraqi monetary authority.”
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