PoliticiansThe American DollarBreakingVisit WashingtonForeign Minister Fouad HusseinThe Iraqi Delegation
Twilight News / Iraqi Foreign Minister Fouad Hussein revealed on Thursday the establishment of a mechanism to monitor the movement of the US currency (dollars) through the Iraqi government and the US Treasury Department, and indicated that each country has its own policy of dealing with countries such as Iran, he stressed that Iraq still needs US forces to provide advice, training and exchange security information.
Iraqi Foreign Minister Fuad Hussein said in an interview with the Kurdish service on Radio “Voice of America” and seen by Shafaq News that “Washington and Baghdad agreed on a mechanism that will make it difficult for dollars to move without the knowledge of the Iraqi government and the US Treasury Department,” adding that “he did not go to visit Washington, to say that the dollar
“Voice of America” radio added that “the radio interview with Hussein dealt with his country’s strategic relations with the United States, the presence of foreign forces, and the influence of Iran,” while the Iraqi minister said that “he discussed in Washington the issue of the sharp decline in the value of the dinar, and that the Central Bank of Iraq took a number of measures that appear in this regard,” expressing his belief that “the currency price is slowly stabilizing.”
Hussein pointed out that “a system has been put in place through which Baghdad and Washington can monitor the destination of funds,” explaining that “under the new system, it will be difficult for dollars to move without the knowledge of the Iraqi government and the US Treasury Department,” adding that “a mechanism has been put in place to regulate the flow of dollars” from Iraq.
On the most important objectives of the visit to Washington and the dinar issue, Hussein explained that “the main reason for our coming is to strengthen ties, especially in the fields of finance and economy, and from these issues related to currency, I think the discussions we had with the US Treasury and the Federal Reserve have reached a good result. The Central Bank of Iraq has taken a number of measures that appear to be supported.”
When asked by the radio about the steps taken by the Iraqi government to prevent the money from going to Iran, the Iraqi minister explained that “Iraqi society buys everything from abroad, from agricultural materials to foodstuffs, medicines and industrial goods, and if you look at Iraq’s trade or trade balance with other countries, you will find that everything comes from abroad as the Iraqi market and
“Therefore, going abroad is good if it is linked to trade, but there was no mechanism for how to issue the dollar from the Central Bank, who will get it from the Iraqi market and how it will go abroad, but now, a mechanism has been put in place to regulate the movement of the dollar,” the Iraqi Foreign Minister said. This mechanism slowly controls the flow of dollars through smuggling or other purposes.”
When asked by the US radio if this mechanism would prevent dollars from entering Iran through Iraq, Hussein said, “We did not come to say that the dollar should not enter this country or that country, we came here to regulate the conditions of the dollar in the Iraqi market, when it is organized in the Iraqi market, it means that dealing in the US dollar will be normal.”
“Under the new system, it will be harder for dollars to go elsewhere without the knowledge of the Iraqi government and the US Treasury Department,” the minister continued.
Asked about issues that were not agreed with the Americans, Hussein said: “We didn’t come here to agree on everything, they have their own policies, for example, they have their own policy towards Russia, they have their own policy towards Iran. For us Iran is a neighboring country and we are treating it differently. That’s a fact.”
On the position of the Iraqi factions on the presence of foreign forces, Hussein said that “it is clear that there is a need for the survival of US forces that are still in Iraq, in order for the security and military interests of Iraq.” “Let me clarify something: these are not combat forces, based on mutual agreement, these US forces are advising and training to the Iraqi army and Peshmerga forces, they have also helped us share intelligence, especially with regard to Barhabei (ISIS),” he added.