An upcoming visit of an Iraqi government delegation to America to discuss the issue of the exchange rate

an hour ago

Keywords, State Administration Coalition, Dinar, Dollar, United States

Rudaw Digital

The coalition of state administration is scheduled to meet this week in Baghdad, to discuss a number of issues, foremost of which is the depreciation of the Iraqi dinar against the US dollar, with the proposal to send an Iraqi government delegation to America to discuss the issue.

The spokesman for the Victory Alliance, which represents one of the parties of the State Administration Alliance, Salam Al-Zubaidi, told Rudaw Media Network, Sunday (July 30, 2023) that the State Administration Alliance “will meet this week in the office of one of the leaders of the Alliance in Baghdad, to discuss a number of issues, including the government’s work, the level of services, and the latest developments in this field.”

He added: “The financial and banking sector will also be one of the most important axes of the meeting, especially after the restriction of the work of 14 Iraqi banks by the United States, which had a significant impact on the devaluation of the dinar.”

Salam Al-Zubaidi pointed out that this issue has become “serious,” attributing this to its threat to Iraq’s economy “and its negative impact on the livelihood of the people and the destabilization of various sectors, leading to the loss of billions of dinars,” he said.

It is noteworthy that the United States of America removed 14 Iraqi banks from the list of the Central Bank of Iraq related to banks entitled to hard currency, on charges of smuggling dollars to countries subject to US sanctions.

On July 19, the Wall Street Journal reported that the United States had taken action against the 14 banks on suspicion of money laundering.

For his part, the spokesman for the Victory Alliance headed by Haider Al-Abadi, said that “the devaluation of the dinar is one of the hottest issues in the Iraqi street, so it will be the most prominent axes of the meeting of the State Administration Alliance.”

He pointed out that “there are fears that the value of the dinar will decrease further,” noting that there is a vision among the leaders of the coordination framework and the state administration also to send a delegation representative of the Iraqi government to discuss this issue with the US Federal Bank and discuss with it threats and risks and lead you proposals to address the situation

rudaqarabia.net