Washington waves the dollar bill.. The US Federal Reserve continues to tamper with the Iraqi dinar
Washington waves the dollar bill.. The US Federal Reserve continues to tamper with the Iraqi dinar
11-14-2023
Information/report..
The American administration continues to work hard to destabilize the internal situation in Iraq, by creating many problems, which it has worked on over the past period, including those related to the security, economic, and even political aspects in light of the interference of its ambassador in Baghdad in issues outside her diplomatic work.
Over the past two years, the US Federal Reserve has worked to impose its unfair conditions aimed at weakening the Iraqi dinar against the dollar, under the pretext of ongoing smuggling operations.
The dollar selling market is witnessing a state of instability in light of the continuous rise and fall, which has created a worry in the Iraqi markets.
Representative Muhammad Al-Baldawi identified four factors behind the continued turmoil in the dollar market in Iraq.
Al-Baldawi said in an interview with “Al-Ma’louma” that “the post-2003 accumulations, the security unrest, and the lack of clarity of a comprehensive vision for reviving the national economy led to the dollar becoming an influential standard in the economy, especially since all the oil sold goes to a bank account in America before it is sold.” He arrives in Baghdad.
He added, “The turmoil occurring in the parallel market and the rise in the dollar exchange rate in recent weeks are clearly behind 4 important factors, most notably the US Federal Reserve’s delay in sending dollar shipments to the central bank and its repeated threats to impose sanctions on it within the framework of an American pressure policy that wants to directly strangle the national economy.” “.
He pointed out that “the economy is a clearly defined American game that is trying, through the dollar, to raise prices and create instability in the markets,” pointing out “the importance of reconsidering the diversification of the basket of currencies and seeking to end the file of dollarization in the markets by adopting the dinar to pay internal dues to reduce… Demand on the parallel market.
In turn, the Parliamentary Finance Committee revealed the details of the discussions between Iraq and America regarding the price of the dollar against the dinar, while indicating that the Central Bank of Iraq has developed solutions to control the continuous rise in exchange rates.
A member of the Finance Committee, Moeen Al-Kazemi, said in an interview with Al-Maalomah, that “the Central Bank is making intensive efforts through its discussions with the US Federal Reserve to ease restrictions on Iraqi banks, as well as developing practical solutions to liberalize the Iraqi currency by opening outlets in most countries of the world for dealing.” In various foreign currencies instead of the dollar.
He added, “The restrictions imposed by the US Federal Reserve and the failure to release Iraqi funds in dollars are behind political reasons for the purpose of its dominance over countries of the world, including Iraq.”
He pointed out that “Iraq receives approximately $10 billion monthly from selling oil, but it is deposited in the US Federal Reserve, which is constantly trying to obstruct its release.”
Al-Kadhimi continued, “The Central Bank has taken new measures by opening multiple outlets in countries around the world that deal in the currencies of the Chinese yuan, the Indian rupee, the European euro, and the Emirati dirham.”
It is noteworthy that the US sanctions are raising a wave of concern among the Iraqis, especially since all government and central bank measures have not succeeded in bringing the parallel exchange rate closer to the official rate.
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