Tuesday, January 2, 2024

Sources: American Pressure On The Central Bank And Finance Is Pushing The Dollar Towards Decline, 2 JAN

Al-Independent/- Informed sources confirmed that the US Ambassador in Baghdad, Alina Romanowski, with the support of a specialized team from the US Treasury Department, exerted significant and continuous pressure on the Central Bank of Iraq and the Ministry of Finance in order to adhere to international standards in the field of transferring and exchanging money with the world.

Three sources familiar with Iraqi political and economic affairs, on condition that their names not be mentioned, explained to Al-Mustaqla that these

pressures came within the framework of the United States’ efforts to

     enhance financial and economic stability in Iraq, and to

     stand up to money laundering operations, terrorist financing, and

     dollar smuggling to parties classified by the international community as Supportive of terrorism.

The sources stressed that  American pressure on the Central Bank of Iraq and the Ministry of Finance included the formation of a supreme national committee to combat money laundering and terrorist financing, to include representatives of the government, the private sector, and civil society institutions.

Also, issuing new instructions to commercial banks, obligating them to follow up on money transfers and exchanges with the world, and to provide the necessary information to the competent authorities.

These pressures come at a time when US-Iraqi relations are witnessing a state of incompatibility in a number of areas, after repeated and strenuous attempts to push them towards stability.

Observers believe that these pressures may contribute to strengthening financial stability in Iraq and preventing money laundering and terrorist financing operations.

While other parties warned that these pressures may lead to restricting the movement of funds in Iraq, and increase the burdens on Iraqi financial institutions, the private sector, and individuals.

American pressures on the Central Bank of Iraq and the Ministry of Finance remain under evaluation, and  their real impact on the Iraqi economy will become clear in the near future.

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