STARR KARLOSKI
The Dinar Agreement,
a significant deal between Iraq and the United States, is part of the broader framework of the U.S.-Iraq Strategic Dialogue aimed at enhancing bilateral cooperation across various sectors. This agreement encompasses several key areas:
Economic and Financial Reforms: The United States is assisting Iraq in reforming its financial and banking sectors to combat corruption, money laundering, and to better integrate with the international economy.
This includes transitioning Iraqi banks from the traditional wire auction mechanism to direct correspondent relationships with international banks by the end of 2024 (The White House) (State Gov).
EEnergy Sector Development: Iraq is working towards energy self-sufficiency with support from U.S. companies. Efforts include modernizing the energy sector, reducing methane emissions, improving electricity reliability, and completing electrical grid connections with neighboring countries.
This initiative also aims to capture flared gas and reduce dependency on energy imports from Iran, potentially saving Iraq billions annually (The White House) (United States Institute of Peace).
Security Cooperation: The agreement emphasizes the need for Iraqi security forces to independently ensure the country’s security, aiming to prevent the resurgence of ISIS.
The establishment of the Higher Military Commission (HMC) in August 2023 aims to transition from a coalition-based security framework to bilateral security relations between Iraq and the United States (State Gov) (United States Institute of Peace).
Regional Integration: The United States supports Iraq in strengthening its relations with regional and international communities to enhance security, stability, and prosperity. This includes efforts to integrate Iraq's economy with the broader Middle East and support democratic processes within the country, including in the Kurdistan Region (The White House) (State Gov).
Overall, the Dinar Agreement reflects a multifaceted approach to fostering a stable, sovereign, and economically integrated Iraq, building on longstanding strategic partnerships and shared goals between the two nations. sources used: http://whitehouse.gov/briefing-room/statements-releases/2024/04/15/joint-statement-from-the-leaders-of-the-united-states-and-the-republic-of-iraq/… http://state.gov/joint-statement-on-the-u-s-iraq-strategic-dialogue/… http://usip.org/publications/2024/04/baghdad-ready-new-chapter-us-iraq-relations…
1:58 PM · Jun 10, 2024
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