CBI actions will increase the value of the Iraqi dinar, PM advisor says

  • 4-02-2023, 10:58
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    The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed on Saturday, that the taken measures by the Central Bank of Iraq-CBI have reflected positively on negotiations with the US Treasury, indicating that these measures will increase the value of the Iraqi dinar.
    Salih told the Iraqi News Agency (INA): "The procedural package launched CBI hours ago is a positive reflection of the success of negotiations between the Central Bank of Iraq and the US Treasury, and is a systematic easing of the restrictions, by adopting international banking tools as transparent channels for the transfer of funds, and in a more detailed way to conduct external transfers between Iraq and the world.”
    "The instructions issued indicate a systematic release of external transfers from the restrictions, instructions, and customs previously approved on the movements of the Iraqi balance of payments, which will rapidly raise the value of the Iraqi dinar, Salih added."
    Earlier, The Central Bank of Iraq revealed the contents of its governor’s meeting, Ali Al-Alaq, with U.S. Department of the Treasury's Under Secretary Brian Nelson in Turkey, as The US Treasury Department has expressed its readiness for the necessary flexibility to achieve common goals," noting that "it was agreed to continue coordination and cooperation during the meetings to be held in Washington, DC, before the middle of the current month."