CandyKisses: Sources: The Governor of the Central Bank of Iraq made an unannounced visit to Washington on the Chinese yuan
Informed sources revealed on Saturday that the Governor of the Central Bank of Iraq Ali Al-Alaq is making an unannounced visit to United States to discuss with officials in Washington about the US Federal Reserve’s decision to stop Baghdad’s dealings with the Chinese yuan.
The sources told Shafaq News that the relationship left for Washington last Tuesday to meet with officials of the Federal Bank and the US Treasury.
She added that Al-Alaq is discussing with US officials the decision to stop dealing Iraq in the Chinese yuan, indicating that the Governor of the Central Bank is also discussing during his visit the required obligations regarding Iraqi banks deprived of dealing with the dollar.
The visit of the Governor of the Central Bank of Iraq Ali Al-Alaq to Washington coincides with a significant jump in the exchange rate of the dollar against the dinar, and more than two months after the visit of Prime Minister Mohamed Shia Al-Sudani to the United States.
Iraqi military delegation visits Washington regarding security agreement
Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein revealed today, Friday, that an Iraqi military delegation will soon visit Washington to hold security talks.
Hussein said in a press conference held in the US capital, Washington, that “our visit to Washington was to attend the NATO summit at the invitation of the American side, and on the sidelines of the summit we held intensive meetings with leaders of several countries, and we held a meeting with the US Treasury Department to discuss issues related to monetary policy and banking signs.”
He added that “a military delegation will visit Washington to hold talks on the security agreement concluded between Iraq and the United States.”
He continued: “We discussed the future of the international mission in NATO meetings in cooperation with the Iraqi Ministry of Defense.” link
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Tishwash: Foreign Minister from Washington: US Treasury positively assessed Central Bank’s efforts
Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein confirmed that the US Treasury Department evaluated the efforts of the Central Bank positively, while indicating that a military delegation will visit Washington to hold security talks.
“Our visit to Washington was to attend the NATO summit at the invitation of the US side, and on the sidelines of the summit we held intensive meetings with leaders of several countries, and we held a meeting with the US Treasury to discuss issues related to monetary policy and banking signs,” Hussein said in a press conference held in the US capital Washington, attended by the Iraqi News Agency (INA).
He added that “the US Treasury positively evaluated the efforts of the Central Bank,” indicating that “a military delegation will visit Washington to hold talks on the security agreement concluded between Iraq and the United States.”
He continued: “We discussed the future of the international mission in NATO meetings in cooperation with the Iraqi Ministry of Defense.” link
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Tishwash: Financial expert to Iraq Observer: Western Union has set a ceiling for its money transfers from Iraq and has not stopped them completely
Financial and banking expert Mustafa Hantoush believes that Western Union Banking Company has set a ceiling for sending money transfers from Iraq and has not suspended them permanently.
Hantoush told Iraq Observer, “Western Union has reduced the size of its money transfers. For example, instead of transferring an amount of $1,000, it will become $500.”
He added, “The Central Bank has not issued any official statement regarding the suspension of Western Union Company for money transfers from Iraq,” noting that this information must be verified from its primary source, which is the Central Bank.”
Local news agencies reported that the world’s largest money transfer company, Western Union, has stopped its money transfers from Iraq without providing further details, at a time when the dollar is witnessing a continuous rise. Meanwhile, a prominent financial source who preferred to remain anonymous told Iraq Observer that the matter is related to setting a ceiling for money transfers issued by Western Union from Iraq, ruling out a final halt.
The financial markets in Iraq are witnessing a state of instability in the exchange rate of the dollar against the Iraqi dinar, as it has been approaching 150,000 for days, in anticipation of the visit of the Governor of the Central Bank of Iraq to the United States of America.
Economic researcher Ziad Al-Hashemi said in a tweet on the X platform: The governor of the Central Bank was sent to New York to discuss the issue of the failure of yuan transfers to China, which the Central Bank relied heavily on to sell dollars and provide the dinar needed to feed the government’s finances.
He added: The causes of the problem remaining unresolved and the strong parties hovering around the Central Bank and searching for the dollar, without accountability, neutrality or internal Iraqi restrictions, will make all the pledges that Al-Alaq will present without any real value, as the same person has previously presented the same pledges throughout the past ten years, and the same problem is still ongoing without a solution, according to him. link
