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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

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    "Serious and significant" economic risks await Iraq if it becomes involved in the Iran-Israel confli

    Rocky
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    "Serious and significant" economic risks await Iraq if it becomes involved in the Iran-Israel confli Empty "Serious and significant" economic risks await Iraq if it becomes involved in the Iran-Israel confli

    Post by Rocky Thu 03 Oct 2024, 4:37 am

    "Serious and significant" economic risks await Iraq if it becomes involved in the Iran-Israel conflict

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    Baghdad Today - Baghdad 
    Economic expert Ahmed Al-Tamimi warned, today, Wednesday (October 2, 2024), of the economic danger of dragging Iraq into conflict with the United States of America.
    Al-Tamimi said in an interview with Baghdad Today, "The attempt to drag Iraq into a conflict with the United States of America has major and dangerous economic risks for the internal Iraqi situation, especially since the economic situation is still completely controlled by the US dollar, and any conflict with Washington leads to a dollar crisis, and this may paralyze the Iraqi economy."
    He explained that "Iraq relies on the dollar in everything regarding its various imports, through the legal frameworks through the platform or through the parallel market, and any American step towards Iraq regarding the dollar will have serious effects on all Iraqi markets, and therefore caution must be exercised against dragging Iraq into conflict with America, and therefore Iraq must maintain good financial, economic and other relations with the American side to ensure the stability of its economic situation.
    On Sunday (September 29, 2024), Professor of International Economics, Nawar Al-Saadi, revealed how developments in Lebanon will affect the Iraqi economy and the oil market in the coming period.
    “As for the impact of the recent events in Lebanon on the Iraqi economy and the oil market, we can say that the repercussions will vary based on several factors, the first of which is that the Iraqi economy depends heavily on oil exports, and any major escalation in the region may lead to a rise in oil prices in the short term due to fears of supply disruptions or increased geopolitical risks in the Middle East. This rise may be positive for Iraq in terms of oil revenues, but it may impose new challenges related to revenue management and the stability of financial markets,” Al-Saadi said in an interview with Baghdad Today.
    He pointed out that, "On the other hand, supply chains may be affected if the situation worsens further, especially if shipping lines or air transport in the region are disrupted under these circumstances, and Iraq may face challenges in importing basic materials or equipment necessary for industrial projects, which may put pressure on development plans."
    Al-Saadi added, "Regarding the influence of the Iraqi armed factions, any direct or indirect intervention in the conflict may expose Iraq to American pressure, including imposing restrictions on dealing in dollars. The United States has previously used the dollar ban card to pressure governments, especially those that contribute to regional instability, which may deepen the financial crises in Iraq and increase the cost of foreign trade transactions."
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