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[size=47]Iraq's economy is in the crosshairs of war: a desire to store dollars[/size]
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Baghdad
Zaid Salem
October 31, 2023
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Increasing demand for replacing the Iraqi dinar (Murtada Al-Sudani/Anatolia)
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[You must be registered and logged in to see this link.] is witnessing tense political and security conditions that have affected the economic sectors, as a result of the Iraqi armed factions ending the truce regarding the presence of the Americans in the country and their renewed targeting of the bases stationed there, as a response to the crimes committed by the Israeli occupation [You must be registered and logged in to see this link.] the Gaza Strip.
Matters become more complicated with the leader of the Sadrist movement, Muqtada al-Sadr, issuing an order to collect signatures within the House of Representatives to close the American embassy in Baghdad. If that actually happens, the effects of the expansion of the war into Iraq will be reflected in the investment and tourism sectors and various activities, most notably the impact of the oil sector on which they depend. Mainly Mesopotamia.
In this context, Ali Al-Sudani, a member of the civil “Qayyim” coalition, pointed out that “fears about the deterioration of the economic situation in Iraq due to attacks on the Americans and the bases where they are located are expected, and that the Americans were aware that they would be exposed to an attack from the Iraqi factions.”
He confirmed to Al-Arabi Al-Jadeed, "The United States will not punish Iraq for the attacks. Rather, it wants to punish Iran more severely than before, but some sectors will witness a decline, especially tourism, which is already declining due to environmental problems, in addition to the threat to investment opportunities."
Militias and armed factions affiliated with the well-known factions in the country targeted Iraqi bases hosting American forces and advisors, in Erbil and Anbar, as well as bases in Syria. During the coming days, Iraq may witness political tension and a governmental impasse as a result of Al-Sadr’s demand to close the American embassy in Baghdad, and this will happen without regard to the effects of this on the economic situation in Iraq.
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[size=12]People's economy
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In turn, the Iraqi economic expert, Bashir Al-Jawahiri, said that “an economic crisis targeting Iraq and the countries of the region, such as Syria, Lebanon, Iran, and perhaps Egypt, is looming on the horizon due to the recent events in Gaza, and the difficult economic conditions may intensify if the conflict extends to Iraq, Lebanon, and Syria, which may It leads to an increase in oil prices, which may be interpreted as beneficial to Iraq, but it is harmful, due to the sanctions imposed on Iraq regarding the circulation of the dollar.” He expected, in an interview with “Al-Araby Al-Jadeed,” that “the United States will go to punish Iran, which Israel considers to be the greatest threat to it.” ".
The United States and Canada have previously asked their citizens not to travel to Iraq, and if they are in Iraq, they must leave immediately. The Netherlands also joined the call on its citizens to leave Iraq as soon as possible, considering in a statement that “the events in Gaza are causing demonstrations in Iraqi cities, There is a possibility of acts of violence and targeting of foreigners, and the security situation in Iraq may suddenly deteriorate, so we call on Dutch citizens to leave immediately,” stressing that “with the exception of the cities of Kurdistan, the rest of the cities of Iraq are considered red zones, and we ask our citizens to leave the red zones, and if they remain... Necessary, they must move to the orange area, which means the cities of Kurdistan, in the north of the country.
As a result of the tensions, Ali Al-Azzawi, an advisor to the Iraqi Stock Exchange, confirmed to Al-Arabi Al-Jadeed that there is a high demand for buying and storing gold and dollars by citizens, in anticipation of any new economic and financial shocks in Iraq.
Al-Azzawi said that the past decades of tensions gave the Iraqis a culture of hoarding and hoarding gold and hard currency, and that is why the market in recent days seemed affected by a widespread demand for buying gold and replacing the dinar with the dollar or euro, and there are others who preferred to withdraw their money from banks and keep it in their homes.
In this context, Amer Al-Fayez, a member of the country’s ruling “Coordination Framework” coalition, said, “Iraq’s position is clear regarding the Israeli crimes against the Palestinians in Gaza, which is to reject this aggression and not identify with the positions of shame that speak of terrorist cases inside the Gaza Strip, which is facing... Zionist terrorism currently, and that this position is official, popular and declared, and we do not mean by it to intimidate international parties or foreign citizens inside Iraq.”
He told Al-Araby Al-Jadeed that “American fears came about because of Washington’s shameful positions in supporting the Israelis.”
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[size=12]Arab economy
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Al-Fayez added, "Iraq wants to maintain its diplomatic and economic relations and common interest with everyone, and there is no intention to turn Iraq into a pole isolated from the world. Perhaps one of the most notable successes of the Sudanese government is the balance in foreign relations."
He stressed that "the demands of political and religious forces to close the American embassy express a state of rejection of what is happening in Gaza, and there are political ways through which these matters are carried out, not by threatening Iraqi stability, and that there are effects that may result from considering the cities of Iraq red, and these effects include sectors "scattered."
Al-Sadr left the government of Muhammad Shiaa Al-Sudani, which has just entered its second year, in a confusing situation for it, regarding its demand and Parliament to vote on a decision to close the American embassy in Iraq, “in support” of the Palestinians, while he stressed “protecting its diplomatic personnel, and not attacking them.” He threatened, “If the government and parliament do not respond, we will have another position that we will announce later.”
For his part, a prominent member of the Sadrist movement, who declined to be named, pointed out that “the factions that are targeting the Iraqi bases that host the Americans represent a reaction to what is happening in Gaza without taking into account the effects that may lead to harm in Iraq, including the situation.” "The economy, especially the oil sector, which is financially governed by the United States of America."
He explained to Al-Araby Al-Jadeed, “Al-Sadr does not want to clash with the United States in the manner of the militias in the country, but he wants the matter to be done through legal means or through popular pressure.”
The Iraqi Prime Minister had directed all security services to track down and trace the elements carrying out the attacks on the headquarters of the international coalition advisors present in Iraq, after the US State Department asked non-essential employees of its staff in Baghdad and their families to leave Iraq, explaining its decision that “the increased threat of terrorism, kidnapping, Armed violence and instability in Iraq threaten American citizens and interests in the country.
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Matters become more complicated with the leader of the Sadrist movement, Muqtada al-Sadr, issuing an order to collect signatures within the House of Representatives to close the American embassy in Baghdad. If that actually happens, the effects of the expansion of the war into Iraq will be reflected in the investment and tourism sectors and various activities, most notably the impact of the oil sector on which they depend. Mainly Mesopotamia.
In this context, Ali Al-Sudani, a member of the civil “Qayyim” coalition, pointed out that “fears about the deterioration of the economic situation in Iraq due to attacks on the Americans and the bases where they are located are expected, and that the Americans were aware that they would be exposed to an attack from the Iraqi factions.”
He confirmed to Al-Arabi Al-Jadeed, "The United States will not punish Iraq for the attacks. Rather, it wants to punish Iran more severely than before, but some sectors will witness a decline, especially tourism, which is already declining due to environmental problems, in addition to the threat to investment opportunities."
Militias and armed factions affiliated with the well-known factions in the country targeted Iraqi bases hosting American forces and advisors, in Erbil and Anbar, as well as bases in Syria. During the coming days, Iraq may witness political tension and a governmental impasse as a result of Al-Sadr’s demand to close the American embassy in Baghdad, and this will happen without regard to the effects of this on the economic situation in Iraq.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
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[size=12]People's economy
[/size]
[You must be registered and logged in to see this link.]
In turn, the Iraqi economic expert, Bashir Al-Jawahiri, said that “an economic crisis targeting Iraq and the countries of the region, such as Syria, Lebanon, Iran, and perhaps Egypt, is looming on the horizon due to the recent events in Gaza, and the difficult economic conditions may intensify if the conflict extends to Iraq, Lebanon, and Syria, which may It leads to an increase in oil prices, which may be interpreted as beneficial to Iraq, but it is harmful, due to the sanctions imposed on Iraq regarding the circulation of the dollar.” He expected, in an interview with “Al-Araby Al-Jadeed,” that “the United States will go to punish Iran, which Israel considers to be the greatest threat to it.” ".
The United States and Canada have previously asked their citizens not to travel to Iraq, and if they are in Iraq, they must leave immediately. The Netherlands also joined the call on its citizens to leave Iraq as soon as possible, considering in a statement that “the events in Gaza are causing demonstrations in Iraqi cities, There is a possibility of acts of violence and targeting of foreigners, and the security situation in Iraq may suddenly deteriorate, so we call on Dutch citizens to leave immediately,” stressing that “with the exception of the cities of Kurdistan, the rest of the cities of Iraq are considered red zones, and we ask our citizens to leave the red zones, and if they remain... Necessary, they must move to the orange area, which means the cities of Kurdistan, in the north of the country.
As a result of the tensions, Ali Al-Azzawi, an advisor to the Iraqi Stock Exchange, confirmed to Al-Arabi Al-Jadeed that there is a high demand for buying and storing gold and dollars by citizens, in anticipation of any new economic and financial shocks in Iraq.
Al-Azzawi said that the past decades of tensions gave the Iraqis a culture of hoarding and hoarding gold and hard currency, and that is why the market in recent days seemed affected by a widespread demand for buying gold and replacing the dinar with the dollar or euro, and there are others who preferred to withdraw their money from banks and keep it in their homes.
In this context, Amer Al-Fayez, a member of the country’s ruling “Coordination Framework” coalition, said, “Iraq’s position is clear regarding the Israeli crimes against the Palestinians in Gaza, which is to reject this aggression and not identify with the positions of shame that speak of terrorist cases inside the Gaza Strip, which is facing... Zionist terrorism currently, and that this position is official, popular and declared, and we do not mean by it to intimidate international parties or foreign citizens inside Iraq.”
He told Al-Araby Al-Jadeed that “American fears came about because of Washington’s shameful positions in supporting the Israelis.”
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
[You must be registered and logged in to see this link.]
[size=12]Arab economy
[/size]
[You must be registered and logged in to see this link.]
Al-Fayez added, "Iraq wants to maintain its diplomatic and economic relations and common interest with everyone, and there is no intention to turn Iraq into a pole isolated from the world. Perhaps one of the most notable successes of the Sudanese government is the balance in foreign relations."
He stressed that "the demands of political and religious forces to close the American embassy express a state of rejection of what is happening in Gaza, and there are political ways through which these matters are carried out, not by threatening Iraqi stability, and that there are effects that may result from considering the cities of Iraq red, and these effects include sectors "scattered."
Al-Sadr left the government of Muhammad Shiaa Al-Sudani, which has just entered its second year, in a confusing situation for it, regarding its demand and Parliament to vote on a decision to close the American embassy in Iraq, “in support” of the Palestinians, while he stressed “protecting its diplomatic personnel, and not attacking them.” He threatened, “If the government and parliament do not respond, we will have another position that we will announce later.”
For his part, a prominent member of the Sadrist movement, who declined to be named, pointed out that “the factions that are targeting the Iraqi bases that host the Americans represent a reaction to what is happening in Gaza without taking into account the effects that may lead to harm in Iraq, including the situation.” "The economy, especially the oil sector, which is financially governed by the United States of America."
He explained to Al-Araby Al-Jadeed, “Al-Sadr does not want to clash with the United States in the manner of the militias in the country, but he wants the matter to be done through legal means or through popular pressure.”
The Iraqi Prime Minister had directed all security services to track down and trace the elements carrying out the attacks on the headquarters of the international coalition advisors present in Iraq, after the US State Department asked non-essential employees of its staff in Baghdad and their families to leave Iraq, explaining its decision that “the increased threat of terrorism, kidnapping, Armed violence and instability in Iraq threaten American citizens and interests in the country.
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