"THE MONETARY REFORM IS MARCHING FORWARD WITHOUT ANY OBSTACLES" BY FRANK26

KTFA

frank26: "THE MONETARY REFORM IS MARCHING FORWARD WITHOUT ANY OBSTACLES"

Baghdad calls on Washington to reconsider its sanctions on 32 Iraqi banks

7/12/2024

 Deputy Prime Minister and Minister of Foreign Affairs, Chairman of the Ministerial Council for the Economy, Fuad Hussein, met today, Friday, with the US Under Secretary of the Treasury for Terrorism and Money Laundering, Brian Nelson, in the presence of the two accompanying delegations at the ministry's headquarters in Washington, DC. During the meeting, the issues that the two parties are working on according to their previous reform agreements were discussed.

 

The Minister of Foreign Affairs confirmed, according to a statement by the ministry, a copy of which was received by {Euphrates News}, "the Iraqi government's commitment to moving forward with its reform and economic measures related to the Iraqi banking system and the energy sector."

He explained that the government's policy seeks to achieve Iraqi energy independence through associated gas investment projects, and to develop the working mechanism of Iraqi banks in line with international standards to ensure transparency and provide open data, which enables banks to provide the services needed by the Iraqi people. He called on the American side to reconsider the sanctions imposed on about 32 Iraqi banks, as they were involved in the structural reform process.

Hussein pointed out that the stability of the Iraqi dinar exchange rate against the US dollar represents a fundamental pillar for achieving economic, social and political stability in Iraq, which is what the government seeks to achieve, calling on the relevant American institutions to review it and build on it.

For his part, Nelson praised the steps taken by the Iraqi government to support the Iraqi economy and address the challenges it faces.

He stressed that the relevant American institutions understand the seriousness of the Iraqi government in modernizing the work mechanisms in Iraqi institutions, expressing the American side's readiness to help Iraq address the obstacles that hinder its reforms, which will have a positive impact on the Iraqi economy.

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