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[size=38]Central Bank: Closing Iraq’s account with the US Federal Reserve will expose us to the risk of international claims[/size]
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April 1, 2024[You must be registered and logged in to see this link.]
Baghdad/Al-Masala Al-Hadath: The Central Bank of Iraq warned of demands to close Iraq’s account in the US Federal Bank.
The Central Bank said that closing our account with the US Federal Bank will expose us to the risk of international claims, pointing out that the revenues from the sale of oil cannot be transferred internally due to the impossibility of carrying out financial operations.
He added that reserves are deposited with central banks and financial institutions, not just the Federal Bank.
He continued that Orient Company is the contractor transporting dollar shipments from the US Federal Reserve to Baghdad International Airport, adding that the insurance amount for one shipment amounts to 414 thousand US dollars.
He concluded by saying that the fees for transporting the shipment amounted to 216,310 US dollars.
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