Al-Atwani: The American sanctions on private banks are political…and Al-Sudani will discuss this file in Washington
Al-Atwani: The American sanctions on private banks are political…and Al-Sudani will discuss this file in Washington
03-27-2024
The head of the Parliamentary Finance Committee, Atwan Al-Atwani, confirmed that Iraq “warned” the US Treasury of the sanctions policy and the possibility of Iraq converting to other currencies if they continued, while indicating that exchange rates would continue to decline.
Al-Atwani said, according to a statement from his office, that “the American sanctions on private banks are political par excellence with the aim of putting pressure on the government,” stressing that “the American Treasury is exerting great pressure on private banks and that the Prime Minister will discuss this file during his upcoming visit to Washington.”
He added: “We delivered a message to the US Treasury through the Central Bank of Iraq, that if it continues with this policy, Iraq will deal in currencies other than the dollar,” pointing out that “Iraq is awaiting an invitation to join the BRICS economic group.”
On the other hand, Al-Atwani explained, “The committee is currently pressing towards amending the salary scale, and is seeking to resolve it before the end of this year, and is following up on the file of appointing 2020 lecturers to permanent staff, and requesting the Ministry of Finance to include their appointment within the Ministry of Education’s allocations for the year 2024,” pointing out that “ The Ministry of Finance is awaiting approval of the budget schedules to launch financing for projects in all governorates.”
He pointed out that “Iraq needs to establish a culture of partnership between the private and public sectors in capital, implementation and management according to the principle of service in exchange for interest, and the focus must be on maximizing non-oil revenues and developing various productive sectors, instead of excessive reliance on oil, and a permanent emphasis on automating taxes and customs.” And other government services with the aim of fighting corruption and developing 50% of the country’s non-oil imports,” noting that “more than 10 trillion is the state’s loss from tax exemptions.”
Regarding exchange rates, the Head of Parliamentary Finance confirmed that “the exchange rate will continue to decline according to current data.”
burathanews.com
