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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


    The Washington Post: The collapse of the Iraqi currency stopped after a meeting with an American off

    Rocky
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    The Washington Post: The collapse of the Iraqi currency stopped after a meeting with an American off Empty The Washington Post: The collapse of the Iraqi currency stopped after a meeting with an American off

    Post by Rocky Sun 05 Feb 2023, 5:23 am

    The Washington Post: The collapse of the Iraqi currency stopped after a meeting with an American official

    [ltr]2023.02.05 - 13:57[/ltr]


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    Baghdad - people  
    The collapse of Iraq's currency stopped after a meeting between the President of the Central Bank of Iraq, Mohsen Al-Alaq, and the US Undersecretary of the Treasury, Brennan Nelson, following protests in Iraqi regions against the backdrop of the deterioration of the country's purchasing power, which generated fears of the significant negative effects of inflation on aspects of life.  
      
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    The Washington Post quoted Nelson as saying that "Al-Alaq, the governor of the Central Bank of Iraq, met in Istanbul, on Friday, February 3, 2023, to discuss reforms in the banking sector" and ways to fulfill the mutual commitment to combating money laundering and countering the financing of terrorism.  
      
    The newspaper titled its report, "The collapse of the Iraqi currency stopped after a meeting with an American official," and stated that "the meeting came after the value of the Iraqi dinar fell to about 1,750 dinars to the dollar in the informal market exchanges in the streets in some parts of the country, on Thursday, February 2, 2023." While the value at the official price was 1460 dinars to one dollar.  
      
    The decline in the value of the Iraqi currency began to stop after the Central Bank of Iraq said, in a statement, on Friday evening, February 3, 2023, that "the US Treasury Department expressed its willingness to show the necessary flexibility in order to achieve common goals."  
      
    Nelson had praised, in a statement, "Iraq's continuous endeavor to improve its commitment to international standards, and its constant keenness to" offer cooperation in modernizing the banking sector.  
      
    Nelson's statements came within the framework of his visit to Turkey and the Middle East, to warn countries and companies that they may lose dealing with the markets of the Group of Seven countries if they deal with entities subject to US restrictions, at a time when Washington is taking strict measures against Russian attempts to evade the sanctions imposed on it because of its war in Ukraine.  
      
    In addition to the United States of America, the Group of Seven includes Germany, France, Britain, Japan, Italy and Canada.  
      
    Measures taken by the United States in recent months to crack down on money laundering and the transfer of dollars from Iraq to Iran and Syria have severely restricted Iraq's access to foreign currency.  
      
    Since the US invasion of Iraq in 2003, Iraq's foreign exchange reserves have been placed in the United States Federal Reserve, giving Americans great control over Iraq's supply of dollars.  
      
    Source: washingtonpost + arabicpost  
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