- October 5 20:05
A report by the American Wall Street Journal revealed, on Thursday, that Iraq asked the United States for one billion dollars in cash from its funds, but the United States refused this under the pretext of money laundering.
The report, translated by the “Al-Ma’louma” agency, stated, “Iraq is seeking to obtain a special shipment worth one billion dollars in cash from the Federal Reserve Bank in New York, but American officials declined to approve, saying that the request conflicts with their efforts to curb Baghdad’s use of the dollar and stop illicit cash flows.” While Baghdad said that it needs funds derived from its oil sales to support its cash reserves.
The report added, "Since the American invasion of Iraq two decades ago, the United States has been providing $10 billion or more annually to Baghdad on bi-monthly cargo flights carrying huge pallets of cash, derived from proceeds from Iraqi oil sales deposited with the Federal Reserve Bank," it says. American officials said that banknotes in the hands of Iraqis have become a lucrative source for illicit dollars and corrupt politicians.
The report continued, "Iraq said it needs funds to help support its faltering currency, while a senior Iraqi official said that after the United States rejected Iraq's initial appeal last month, the Central Bank of Iraq submitted an official request last week, and the US Treasury Department is still... "You study it."
The report continued, "According to Iraqi officials, Treasury officials informed Iraqi bank governors that sending a large additional shipment conflicts with Washington's goal of reducing Iraq's use of American banknotes in favor of electronic transactions that can be more easily tracked. Meanwhile, American officials said that there is strong evidence that "Some of the dollars that used to go to Iraq are smuggled in cash."
The report noted that "the initial American refusal angered some Iraqi officials, who said they requested an additional billion dollars from their own funds because the country's cash reserves declined after Washington's attempts to restrict the flow of dollars led to widespread panic and hoarding of dollars on stock exchanges."
For his part, a member of the Finance Committee in the Iraqi Parliament, Mueen Al-Kazemi, said, “The American side is making excuses for not giving Iraq its legal and legitimate funds.” Ended / 25 D
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