"THE SOLUTION TO THE DOLLAR CRISIS REQUIRES ECONOMIC REFORMS" BY MNT GOAT, 12 APRIL

THE DOLLAR IS ON THE SUDANESE DIALOGUE TABLE IN WASHINGTON.. AL-AWADI TALKS ABOUT THE FUTURE OF THE IRAQI DINAR

The Iraqi government spokesman, Bassem Al-Awadi, confirmed today, Thursday (April 11, 2024), that the dollar file and the work of banks will be strongly present during the visit of Prime Minister Muhammad Shiaa Al-Sudani to Washington, suggesting that the dinar’s situation in the future will be better.

Al-Awadi said in an interview with “Baghdad Today” that “after the issue of activating the strategic framework agreement between Washington and Baghdad and the security aspect, the economic file will be present and strongly during the Prime Minister’s visit to the United States,” indicating that “the relationship with the US Treasury and the Federal Bank continues and the dialogues are ongoing.” “It did not stop with them over the past year , as there were several mutual visits, announced or unannounced, to discuss this file.”

Al-Awadi added, “The Sudanese will discuss the issue of banks and the economic and administrative reform of financial institutions and banks, as well as the dollar file,” explaining that “the price of the dollar ranged within the range of 147 thousand dinars for every 100 dollars during the short period at a time when the government took over its duties and the price of the dollar against the dinar was approaching.” From 148 thousand, meaning that the price is lower than before.”

He stressed that “the solution to the dollar crisis does not come with the push of a button. Rather, it requires economic reforms and includes many aspects, including political and economic ones. It needs a period to regulate the banks and reap the fruits of the central bank’s packages and the government’s decisions, which as a whole have begun to bear fruit through a gradual decline in the exchange rate of the dollar against the dinar.” “, stressing that “there are assurances from the economic team supervising the issue, and we expect that the situation of the dinar will be better in the future.” 

It is hoped that, a few days from now, Prime Minister Muhammad Shiaa Al-Sudani will visit Washington and the White House to meet with US President Joe Biden.

Last March, the White House announced that on April 15, the White House would receive the Sudanese President, stressing that the leaders would reaffirm their commitment to the Strategic Framework Agreement, and would work to deepen their shared vision for a secure, sovereign, prosperous Iraq fully integrated into the broader region.

He pointed out that President Biden and the Sudanese Prime Minister will consult on a range of issues during the visit, including our shared commitment to the permanent defeat of ISIS and the development of the military mission nearly ten years after the formation of the successful global coalition to defeat ISIS.

He stated that they will also discuss the ongoing Iraqi financial reforms to promote economic development and progress towards Iraq’s energy independence and modernization. 

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