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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 coordination framework reveals the results of Washington's dollar negotiations and awaits US mea

    Rocky
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    The coordination framework reveals the results of Washington's dollar negotiations and awaits US mea Empty The coordination framework reveals the results of Washington's dollar negotiations and awaits US mea

    Post by Rocky Mon 13 Feb 2023, 5:20 am

    The coordination framework reveals the results of Washington's dollar negotiations and awaits US measures



    [You must be registered and logged in to see this image.]Shorja Market, Baghdad: Photo by Murtaja Latif

    2023-02-13 04:17
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    Shafaq News/ Today, Monday, the coordinating framework, which brings together the Shiite political forces, revealed the results of the Iraqi negotiations in Washington regarding the dollar crisis.
    Iraq, the second largest producer in OPEC, was under pressure from the United States to limit the flow of money to neighboring Iran, as the Federal Reserve Board in New York last November imposed stricter restrictions on dollar transactions by Iraqi commercial banks.
    These measures contributed to a dollar shortage, led to a decline in the dinar and fueled inflation, prompting Prime Minister Muhammad Shia al-Sudani to replace the central bank governor, Mustafa Ghaleb Makhaif.
    After that, the Iraqi Foreign Ministry, Fouad Hussein, along with the Acting Central Bank Governor, Ali Al-Alaq, visited Washington to discuss issues, including the newly applied standards for transfers in US dollars.
    "The Iraqi negotiations in Washington that are currently taking place are very positive after communicating with some members of the negotiating delegation, pointing out that the US Federal Reserve and the US Treasury, as well as the US State Department, support the stability of Iraq and its market," the leader in the framework, Hassan Fadam, told Shafaq News agency.
    And between Fadaam, "We are currently awaiting practical measures on the ground to support this stability in a real and realistic way by the United States of America, just as the measures that the US federal government previously requested to implement, which are from the period of Mustafa Al-Kazemi's government, are in the interest of Iraq, before they are in the interest of Washington." Also, Iraq benefits from linking the central bank and remittances to the global system, and this matter reveals where the dollar goes in any transfer, and the exchange of the dollar is actually for the parties that import real materials to Iraq and prevent the great waste that occurs in the currency auction.
    He added, "The implementation of these measures takes time, especially since the Al-Kazemi government fell short in completing these measures, and the current government is working to implement these measures quickly and is responding to the demands of the US Federal Reserve and the US Treasury and is working to organize the Central Bank of Iraq well and monitor the funds that come out of it." Iraq, where are you going?"
    The Iraqi markets have recently witnessed a deterioration in the price of the dollar against the dinar, exceeding the threshold of one thousand and 700 dinars, after America activated a package of decisions related to financial transactions, to tighten its grip on currency smuggling, which prompted the Iraqi government to set up successive measures and discussions with Washington to contain the crisis.
    The government decisions concluded with decreasing the value of the US dollar against the dinar, and adopting a price (one thousand and 300 dinars against the dollar) in the draft federal budget law 2023, but this step may lead to new inflation that hits the economy that relies on selling oil to finance its budgets.
    For Iraq, the adoption of stricter regulatory measures means more transparency and tackling money laundering.
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