Al-Bayati: Iraq has its options to deal with currencies alternative to the dollar, 18 SEPT

 Al-Bayati: Iraq has its options to deal with currencies alternative to the dollar

9-17-2023

Al-Bayati - Iraq has its options to deal with currencies alternative to the dollarInformation / Baghdad…

Former MP Jassem Al-Bayati confirmed on Sunday that Iraq has alternative currencies that can be agreed upon with the US Treasury to deal with in the event of sanctions being imposed on some banks.

Al-Bayati told Al-Maalouma, “The visit of the US Treasury delegation to Baghdad comes in preparation for the visit of a delegation from Baghdad to Washington, where some points were set by the Central Bank regarding alternatives to the dollar, such as the euro, the UAE riyal, and the Chinese yen.”

He added, “The US Treasury’s acceptance of the aforementioned alternatives will be a positive factor for Iraq,” noting that “there is a fear of imposing restrictions and severing the relationship in dealing in the dollar currency with some Iraqi banks.”

He stated that “the restrictions that the US Treasury may impose on some banks will allow them to deal in other currencies if this is agreed upon, and it is unlikely that sanctions will be imposed. If this existed, it would be announced explicitly, and in the end.”

almaalomah.me