Al-Alawi expresses his support for economic transformation and stresses the importance of dealing in multiple currencies, 16 NOV

 Al-Alawi expresses his support for economic transformation and stresses the importance of dealing in multiple currencies

Al-Alawi expresses his support for economic transformation and stresses the importance of dealing in multiple currenciesToday, Tuesday, Member of Parliament Jassim Al-Alawi expressed his opinion on the current economic transformation, pointing out the importance of dealing in multiple currencies instead of relying exclusively on the US dollar.

In this context, Jassim referred, in a statement to an NRT Arabia correspondent in Baghdad, to the state of economic monopoly that the United States is witnessing and its restriction of economic operations in dollars, which causes embarrassment in the event of a dispute.

Jassim explained that any country that follows an American policy may face concealment of its dealings and the imposition of sanctions and pressure, which affects its economic reality and monetary circulation in that country.

He added, “This step taken by Iraq is not only an isolated step, but rather reflects a global trend towards liberating transactions from the dominance of the American economy.”

In a prediction for the coming period, Jassim expressed his expectation that currencies other than the dollar will enter Iraq, noting, “the presence of other currencies with a weight and size commensurate with the economic reality.”

He stressed that these currencies are widely circulated in Asian countries, including countries allied with Iraq, such as China and Russia, stressing that “converting to other currencies can provide broader economic opportunities and greater competition for the beneficiaries of these countries.”

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