"THE MONETARY REFORM IS VERY LOUD" BY FRANK26

 KTFA

FRANK26: "THE MONETARY REFORM IS VERY LOUD"......F26

Iraqi-American talks on the exchange rate of the dinar against the dollar

7/12/2024

Baghdad

Foreign Minister Fuad Hussein discussed today, Friday, July 12, 2024, during his visit to Washington with the US Under Secretary of the Treasury for Terrorism and Money Laundering, Brian Nelson, the dollar exchange rate and lifting US sanctions on 32 Iraqi banks.

A statement by the Iraqi Foreign Ministry, received by "Baghdad Today", said that Hussein - who heads the Ministerial Council for the Economy - discussed with the American official "the issues that the two parties are working on according to their previous reform agreements."

During the meeting, Hussein stressed, according to the statement, "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 a manner consistent with international standards to ensure transparency and provide open data, which enables banks to provide the services needed by the Iraqi people."

The Foreign Minister 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, in a way that reflects positively on the Iraqi economy."

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