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Iraqi parliamentarians: There are no solutions to the dollar crisis except with the commitment of the American platform, and the matter requires external efforts
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2023-01-28 03:06
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Shafaq News/ A member of the Parliamentary Finance Committee, Jamal Ahmed Koujar, considered, on Saturday, that any government measures to address the crisis of the rise in the exchange rate of the dollar against the dinar are "useless" without adhering to the Americans platform imposed by the United States on Iraq.
Cougar told Shafaq News agency that all governmental solutions and measures to end the crisis of the rise and fluctuation of dollar prices will not work without negotiating with the United States and adhering to the platform it imposed on the movement of the dollar to and from outside Iraq by any other party.
He added that "the government can resolve the crisis with the American side by postponing the work on the platform," and at the same time, adhering to its difficulty.
Cougar stressed that the spiral of the crisis continues, regardless of the government measures or announced treatments.
On the fact that some neighboring countries and regional countries agreed to strike the dollar and adopt their local currencies in dealings with other countries, the member of the Parliamentary Finance Committee said, “No country or party can strike the dollar.”
Last Monday, the head of the Iranian-Iraqi Joint Chamber of Commerce, Yahya Al-Ishaq, said that if a banking agreement was concluded between Iran and Iraq for financial exchange using riyals and dinars instead of dollars, US banking procedures in Iraq would become ineffective.
For his part, Representative Khaled Hassan al-Darraji said that the crisis of the dollar's rise is greater than internal solutions, and several countries participate in it.
Al-Daraji said in his interview with Shafaq News agency, that smuggling and selling dollars is the real reason behind the crisis, adding that it is not possible to engage in this thorny file that requires external efforts and international coordination to get out of the current crisis.
And the Iraqi currency lost about 10 percent of its value, after procedures related to imposing compliance rules on the Iraqi Central Bank's dealings with currency dealers in relation to the US dollar.
Under the new procedures, Iraqi banks are required to submit dollar transfers on a new online platform with the Central Bank of Iraq, which are then reviewed by the Federal Reserve Bank.
US officials say the system aims to limit the use of the Iraqi banking system to smuggle dollars to Tehran, Damascus and money laundering havens across the Middle East.
The government measures taken by Prime Minister Muhammad Shia al-Sudani did not succeed in stopping the huge rise in the exchange rate of the dollar, as Iraqi stock exchanges still recorded more than 161 thousand dinars compared to $100.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
2023-01-28 03:06
Share
Font
Shafaq News/ A member of the Parliamentary Finance Committee, Jamal Ahmed Koujar, considered, on Saturday, that any government measures to address the crisis of the rise in the exchange rate of the dollar against the dinar are "useless" without adhering to the Americans platform imposed by the United States on Iraq.
Cougar told Shafaq News agency that all governmental solutions and measures to end the crisis of the rise and fluctuation of dollar prices will not work without negotiating with the United States and adhering to the platform it imposed on the movement of the dollar to and from outside Iraq by any other party.
He added that "the government can resolve the crisis with the American side by postponing the work on the platform," and at the same time, adhering to its difficulty.
Cougar stressed that the spiral of the crisis continues, regardless of the government measures or announced treatments.
On the fact that some neighboring countries and regional countries agreed to strike the dollar and adopt their local currencies in dealings with other countries, the member of the Parliamentary Finance Committee said, “No country or party can strike the dollar.”
Last Monday, the head of the Iranian-Iraqi Joint Chamber of Commerce, Yahya Al-Ishaq, said that if a banking agreement was concluded between Iran and Iraq for financial exchange using riyals and dinars instead of dollars, US banking procedures in Iraq would become ineffective.
For his part, Representative Khaled Hassan al-Darraji said that the crisis of the dollar's rise is greater than internal solutions, and several countries participate in it.
Al-Daraji said in his interview with Shafaq News agency, that smuggling and selling dollars is the real reason behind the crisis, adding that it is not possible to engage in this thorny file that requires external efforts and international coordination to get out of the current crisis.
And the Iraqi currency lost about 10 percent of its value, after procedures related to imposing compliance rules on the Iraqi Central Bank's dealings with currency dealers in relation to the US dollar.
Under the new procedures, Iraqi banks are required to submit dollar transfers on a new online platform with the Central Bank of Iraq, which are then reviewed by the Federal Reserve Bank.
US officials say the system aims to limit the use of the Iraqi banking system to smuggle dollars to Tehran, Damascus and money laundering havens across the Middle East.
The government measures taken by Prime Minister Muhammad Shia al-Sudani did not succeed in stopping the huge rise in the exchange rate of the dollar, as Iraqi stock exchanges still recorded more than 161 thousand dinars compared to $100.
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