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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    measures related to Iran and currency exchange.. What about Emwazi?

    Rocky
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    • Post n°1

    Iran - measures related to Iran and currency exchange.. What about Emwazi? Empty measures related to Iran and currency exchange.. What about Emwazi?

    Post by Rocky Fri 06 Oct 2023, 9:15 am

    measures related to Iran and currency exchange.. What about Emwazi?
    [You must be registered and logged in to see this link.] |Today
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    Baghdad today - Baghdad
    Economist Nabil Al-Marsoumi commented today, Friday (October 6, 2023), regarding the Central Bank of Iraq’s reduction of banking companies’ shares of the cash dollar by more than half.
    Washington rejected Iraq's request to obtain $1 billion in cash from the Federal Reserve Bank, arguing that it conflicted with their efforts to curb Baghdad's use of the dollar and stop illicit cash flows to Iran. According to the American Wall Street Journal.
    Al-Marsoumi wrote in his Facebook post, which was followed by “Baghdad Today,” that “the US Federal Reserve reduced its transfers of cash dollars to Iraq from 10 billion dollars to 5 billion dollars annually through semi-monthly shipments.”
    American refusal
    He added, "Washington rejected an Iraqi request for an additional billion dollars because it conflicts with American efforts to curb Baghdad's use of the dollar and stop illicit cash flows to Iran and Syria."
    Al-Marsoumi noted, "As a result, the Central Bank of Iraq was forced to reduce the banking companies' shares of the cash dollar by more than half, which will affect the exchange rate of the dinar against the dollar in the parallel market in the future and will reduce Iraq's imports from Iran by almost half."
    According to a report by the American Wall Street Journal published yesterday, Thursday (October 5, 2023), “  Iraq is seeking to obtain a special shipment worth one billion dollars in cash from the Federal Reserve Bank in New York, but American officials declined to approve, saying that the request conflicts with their efforts to curb the use of... Baghdad for the dollar and stop illicit cash flows, while Baghdad said that it needs funds derived from its oil sales to support its cash reserves.
    A source of profit
    He added, "Since the American invasion of Iraq two decades ago, the United States has been providing $10 billion or more annually to Baghdad on bi-monthly cargo flights carrying huge pallets of cash, derived from the proceeds of Iraqi oil sales deposited with the Federal Reserve Bank," he said. American officials said that banknotes in the hands of Iraqis have become a lucrative source for illicit dollars and corrupt politicians.
    He continued, "Iraq said that it needs funds to help support its faltering currency, while a senior Iraqi official said that after the United States rejected the initial appeal submitted by Iraq last month, the Central Bank of Iraq submitted an official request last week, and the US Treasury Department is still studying it." ". 
    The report continued, "According to Iraqi officials, treasury officials informed Iraqi bank governors that sending a large additional shipment conflicts with Washington's goal of reducing Iraq's use of American banknotes in favor of electronic transactions that can be more easily tracked, while American officials said that there is strong evidence that "Some of the dollars that used to go to Iraq are smuggled in cash." 
    A dangerous precedent
    The report noted that "the initial American refusal angered some Iraqi officials, who said they requested an additional billion dollars from their own funds because the country's cash reserves declined after Washington's attempts to restrict the flow of dollars led to widespread panic and hoarding of dollars on stock exchanges."
    In addition, Professor of International Economics, Nawar Al-Saadi, said that the US Federal Reserve refused to provide the Iraqi Central Bank with a billion dollars in cash, “a dangerous precedent that must be taken seriously by the Iraqi government.”
    Al-Saadi said in a post on his Facebook page, “Enough of the drumming by the economists who drum on the channels day and night and claim that the dinar is strong and that there are strict measures. Now trust has deteriorated between the Iraqi Central Bank and the (American) Federal Reserve. The Americans cannot tolerate procrastination and prevarication any longer.”
    Source: Baghdad Al-Youm + Agencies
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