We build: Stopping dealing in the Chinese yuan is a limitation for the Iraqi economy
We build: Stopping dealing in the Chinese yuan is a limitation for the Iraqi economy
7-6-2024
Information/Special..
Member of the “We Build” coalition, Ali Al-Zubaidi, considered today, Saturday, that the attempt to stop dealing in the Chinese yuan in Iraq’s foreign transactions by the US Federal Reserve is political pressure and a restriction on the Iraqi economy.
Al-Zubaidi said in a statement to Al-Maalouma Agency, “America is exerting economic pressure on Iraq to gain political gains,” noting that “stopping Iraq’s external dealings in the Chinese yuan comes to limit Iraq’s economic role and the dominance of the US dollar.”
He added that “the rise in the dollar price in the Iraqi markets is a result of the Federal Reserve imposing sanctions on transactions in the Chinese yuan and stopping dealing with it,” noting that “America is exerting pressure to remain in Iraq for as long as possible.”
Since the beginning of 2023, the Central Bank of Iraq has issued several decisions aimed at maintaining the stability of the general monetary and economic situation and confronting the risks of fluctuations in the exchange rate of the Iraqi dinar against the US dollar, the most important of which is strengthening the balances of Iraqi banks that have accounts with Chinese banks – in Chinese yuan.
almaalomah.me
