Will the Al-Kadhimi government’s contracts concluded with Washington be cancelled? A parliamentarian answers, 27 DEC
Information/Private.. Today, Wednesday, a member of the House of Representatives, Thaer Al-Jubouri, indicated the possibility of the current government moving towards canceling the agreements concluded with America during the era of the Al-Kadhimi government, while he confirmed that all contracts that affected the country will disappear with the disappearance of the figures conspiring with Washington during the previous period.
Al-Jubouri said, in an interview with the Al-Ma’louma Agency, that “there are many violations in the contracts that were concluded in the previous government that were canceled and put to an end,” noting that “the situation in Iraq differs greatly from what it is now in many files years ago.” .
He added, “Standing and colluding with the American occupation forces will not last forever, given the awareness of the Iraqi people on the issues affecting the country,” pointing out that “the previous government committed many mistakes in the agreements and contracts concluded with Washington or others.”
Regarding America’s interventions in Iraq, Al-Jubouri explains: “The influence of the United States of America has begun to be limited through the government’s work to remove officials who supported it in the previous period.”
After two decades, America worked to control most of Iraq’s major files and dominate the conclusion of contracts with it or its allies, especially in the previous Al-Kadhimi government, despite the catastrophic failure it caused in the electricity, security, and economic files, and despite the huge amounts of money it seized during the previous period, it still continues in the same way. The approach you are using against the country.
In an interview with the Al-Ma’louma Agency, Muhammad Al-Baldawi, representative of the Al-Fatah Alliance, accused “America of trying to control the Iraqi army’s arms deals by replacing Russian aircraft with American ones,” while he confirmed that Washington is working against the development of the Iraqi army’s air force.
Article: "A financial expert points out the reasons for the continuous decline in the dollar exchange rate" Quote: "On Monday, financial expert Nabil Al-Ali attributed the continued decline in the exchange rate of the US dollar towards the Iraqi dinar to...the change in the attitudes of merchants and public opinion through their conviction of the strength and status of the dinar...The dollar exchange rates against the Iraqi dinar will continue to decline, thus touching the official rate specified by the Central Bank."
Article: "The Iraqi Dinar Overthrows The Dollar And Wins The Struggle To Control The Regular Market” Quote “The US Treasury continues its cooperation with the Central Bank of Iraq,as many Iraqi banks have now formed relationships with international banks for the first time.”
Article: " CBI Governor: Int'l welcome to the Iraqi banking sector’s commitment to compliance rules" Quote: "For the first time, Iraq is witnessing the reorganization of the external transfer process through correspondent banks, instead of the Central Bank or the Federal Bank being the executive interface for this process.”
The dollar is falling in Iraq, and the battle to tame it is nearing an end, 27 DEC
The local market has witnessed a gradual decline in the dollar exchange rate recently in a way that observers described as a rapid decline, suggesting that it will reach a level close to the official rate in light of the central bank and government measures with an American green light to release payments of savings at the Federal Reserve.
At the beginning of this week, the US Ambassador to Iraq, Alenia Romanski, announced that her country would continue to provide US dollar services to Iraq, as she told me in her tweet that “the executive agency responsible for promoting economic prosperity and ensuring the financial security of the United States continues its cooperation with the Central Bank of Iraq, and many banks Iraq has formed relationships with international banks for the first time, which is a positive step in making progress in reforming the banking sector, and we will continue to provide US dollar services to Iraq in the interest of economic stability.”
In conjunction with the statement of the US Ambassador, media reports circulated that the Iraqi government and the US Treasury had reached an agreement to launch further payments for oil revenues saved in the Federal Bank after Washington refused to request from Baghdad to provide it with two billion dollars in imports from the sale of oil, which caused a rise in the price of the dollar in the local market during The past months.
Representative in Parliament and member of the Finance Committee, Moeen Al-Kazemi, says that the dollar crisis in the Iraqi market is artificial, and the American side has a major role in causing it.
Al-Kadhimi confirmed in a statement to Al-Mutala’ Agency that “many government measures have been taken to stabilize the dollar exchange rate and pursue speculators in the parallel market, which contributed to its decline to lower levels than it was previously. However, the measures being taken by the US Federal Reserve are causing turmoil and affecting the dollar crisis.” in the country”.
He explained, “With the many measures of the government and concerned authorities, including the Central Bank, the dollar exchange rate will continue to fall to a level close to the official price of 132, but this requires stages or time periods in order to maintain market stability and avoid disturbances, so that it will be gradual.”
In turn, the economist Bassem Antoine attributed the reason for the turmoil and instability of the exchange rate despite government measures to speculators who work against the state’s policy.
Antoine says in a statement to Al-Mutala’ Agency, “To achieve stability in the dollar exchange rate, the economy needs to be sound by building a correct foundation and reforming the various economic sectors in the country. Otherwise, there will be no stability, especially with the presence of speculators working against the state’s policy.” “.
The economic expert confirmed, “This fluctuation in the dollar exchange rate means that there is no correct basis for building a strong economy, and there is no better option than building the economy on its correct foundations,” suggesting that “the dollar will rise again in the Iraqi market.”
For their part, observers and those interested in economic affairs expressed their interest in the rapid decline in the dollar exchange rate recently, highlighting the impact of the relationship between Iraq and the United States in controlling the price of the dollar as a pressure card used to achieve its policies towards the country.
In addition, Jamal Cougar, a member of the Finance Committee, said that the measures taken by the government are still insufficient to solve the dollar crisis, and quick solutions must be found regarding the foreign financing that Iraq conducts with a number of countries, anticipating the continuation of the dollar crisis, which requires a long time to be resolved. According to his opinion
In conjunction with the first signs of a decline in the dollar exchange rate, the media advisor to Prime Minister Hisham Al-Rikabi stated that the battle with the dollar is nearing its end.
In his tweet on the (X) website, Al-Rikabi said, “The will of the Sudanese government to carry out reform within the financial institutions in Iraq and the insistence on correction were important factors in strengthening confidence between Baghdad and Washington and constituted a positive step in achieving success within the banking sector. We said it previously and we confirm it today.” Our battle with the dollar is almost over.
On December 14, the Central Bank of Iraq announced that it had reached an agreement with the US Federal Reserve and the US Treasury regarding meeting Iraq’s needs for cash dollar payments for the next year.
The parallel market in Baghdad and the governorates is witnessing a noticeable decline in the exchange rate of the dollar against the dinar, and the selling price in banking offices in the capital today reached 152,750 dinars for every hundred dollars, while the purchase prices reached 150,750 dinars for every 100 US dollars.
Iraq is going to go international. We don't have very long time to wait as far as what they are telling us. If they throw us a curve ball and we find out something different, don't shoot the messenger...I hope you have a Happy New Year and I think we're going to be moving forward with some really positive information.
They've met their new international compliance requirements. The banks are facilitating currency movements and international trade going forward. Really this is a very good sign that what we've been dealing with and what we've been waiting for is knocking on the doorsteps. It is really good.
Keep positive. Keep upbeat. There's nothing bad as far as I can see at the moment. We'll see. Anything can happen. Anything can change..
What I've always said is it makes more sense for Iraq to have a managed float which is effectively a fixed exchange rate...1 to 1 or 2 to 1, 3 to 1, 4 to 1 whatever they decide to do it makes it easier the higher that exchange rate is to defend...Having a...3 years budget keeps it stable...pricing stays stable.
Anybody that says it's going to float to from a relatively low range to a high range over time they don't understand. Article quote: "The exchange rate will be fixed especially since it's been fixed in the federal budget law for 3 years says Saleh..." This is coming from the advisor. Don't talk about float. It just doesn't make sense to anybody.
Since November of last year they have been working to do what? Get rid of the parallel market. And how are they doing that? They're populating banks with many other currencies. They're doing all those things that are necessary to do what? Be article VIII compliant, to have a single currency, not a dual currency country. They're getting rid of multi-currency practices.
They're talking about reducing Iraq's dependence on oil. Dependence on oil is going to go away because they have non oil related products...services...and sectors . That's going to be from the taxes and tariffs at the borders, imports, exports, natural resources. They're going to have other than just oil. They're going to have other circumstances...They're talking about 350 million ton of sulfur...They're trying to achieve sustainability for the private sector..
Everybody knows Iraq is about to go International and they're going to have a digital transformation ...When they have this investment budget and they start spending...Iraq is going to be filthy rich with revenue streams from the electronic borders, agriculture, tourism... mining, sulfur, phosphates...they're going to have revenue like no other.
There isn't anything else like it, in my lifetime, that I can see is going to trump Iraq... Don't forget...Iraq has a massive amount of hydrogen for clean energy...nobody else is talking about it...The amount of money and revenue streams Iraq is going to have is almost incomprehensible...It really is intense on how much money these guys are going to make on a regular basis..
