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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

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    Does the US Federal Reserve intervene to reduce the exchange rates of the dollar in Iraq?

    Rocky
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    Does the US Federal Reserve intervene to reduce the exchange rates of the dollar in Iraq? Empty Does the US Federal Reserve intervene to reduce the exchange rates of the dollar in Iraq?

    Post by Rocky Thu 29 Dec 2022, 6:36 am

    [size=38]Does the US Federal Reserve intervene to reduce the exchange rates of the dollar in Iraq?[/size]


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    December 29, 2022[You must be registered and logged in to see this link.]
    Baghdad / Obelisk: Legal expert Ali Al-Tamimi said that the United States is obliged to help Iraq economically and in times of crisis, especially when the price of the dollar rises, which Washington controls through the US federal system.
    Al-Tamimi added, in a statement to Al-Masalla, that “according to the bilateral agreement between Iraq and the United States of America for the year 2008 in Article 27 of it, the United States of America committed itself to assisting Iraq economically and in times of crisis, especially if the price of the dollar, which is controlled by the US federal government, and foreign remittances rise.”
    He stressed that "Iraq can approach America by implementing this agreement directly, or through the United Nations, as this agreement is international and deposited with the United Nations under Article 102 of the Charter of the United Nations."
    And he continued, "The United States of America is obligated under the Fourth Geneva Convention to help Iraq, as it is an occupied country, and according to this agreement, it is obligated to help the country that occupied it."
    Representative Mustafa Sanad, on Sunday, accused America of leading international colonialism and blackmail against Iraq by causing a rise in the exchange rate of the dollar, criticizing the silence of the political blocs on this matter.
    Sanad said that the rise of the dollar these days is completely different. It came because of America itself, without a mediator, and the purpose is to prevent the dollar from entering Iraq in the first place, for the purpose of punishing it lightly, and it is waiting for it at the dialogue table in early 2023 for the purpose of understanding about hot files such as the Iranian file and the file Energy and the future of US forces and security agreements.
    There is popular dissatisfaction with the rise in prices in the Iraqi markets, after the exchange rate of the US dollar rose against the Iraqi dinar, at a time when the Iraqi street was waiting for government decisions leading to the return of the exchange rate to its previous state.
    The Central Bank attributed the rise, in a statement, to temporary pressures resulting from external and internal factors that led to the rise of the dollar against the Iraqi dinar.
    However, Iraqi economists question the justifications of the Iraqi Central Bank, pointing to fears of a possible continuation of the increase in exchange rates during the coming period, which may mean that Iraq enters a new phase of inflation, especially with its dependence on imports for everything.
    Experts point out that what was known as the “theft of the century” had consequences that affected the movement of liquidity and remittances, and prompted an unjustified increase in exchange rates.
    The economic expert, Dr. Diaa Mohsen, says, “The rise in the exchange rates of the Iraqi dinar against the US dollar cannot be considered economic as much as it is political, because after the advent of Prime Minister Muhammad Shia al-Sudani, developments took place in the Iraqi economic system, especially with regard to fighting corruption.
    The US Treasury Department and the Central Bank of Iraq monitor dollar transactions in Iraq through an electronic system that will take 10 to 15 days, which in turn will affect the dollar's appreciation, according to deputies.
     
    Prepared by Mohamed Salah
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