Parliamentary Finance Committee to US Delegation: The Triennial Budget Represents an Important Message to Foreign Companies

Baghdad-INA   
The head of the Parliamentary Finance Committee, Atwan Al-Atwani, confirmed to the delegation of the US Embassy in Baghdad, today, Wednesday, that the Triennial Budget represents an important message to foreign companies.
 
The media office of the head of the Parliamentary Finance Committee said in a statement received by the Iraqi News Agency (INA): that "The head of the Parliamentary Finance Committee, Atwan Al-Atwani, received the delegation of the US Embassy in Baghdad, headed by the Minister Plenipotentiary for Economic and Commercial Affairs, Julie Jules."
 
According to the statement "Al-Atwani reviewed during the meeting the financial and monetary situation in the country, and the role of the Finance Committee in monitoring the implementation of the General Budget Law, especially the paragraphs related to maximizing non-oil revenues or those supporting the private sector and investment."
 
 "Al-Atwani addressed the most important challenges facing financial policy in Iraq, most notably the restrictions and procedures of the US Treasury, which were greatly reflected in the work of the banking sector and caused the continued crisis of fluctuations in the dollar price."
The Chairman of the Finance Committee, according to the statement, touched on "the importance of the private sector entering as a major partner with the government in implementing and financing projects and providing services."  
 
 "The meeting discussed ways to enhance joint bilateral cooperation between Iraq and the United States within the framework of the Strategic Framework Agreement, and to activate its economic contents related to developing capabilities and assisting in reforming the financial and banking system."
 
For his part, the US Embassy delegation praised "the experience of the three-year budget for its tangible positive repercussions in terms of improving the living conditions of Iraqis and enabling the government to perform its duties," stressing "its readiness to cooperate and work together with the Finance Committee to solve the existing problems between the US Treasury and Iraqi banks."
 
Al-Atwani stressed according to the statement that "the tripartite budget represents an important message to foreign countries and companies that Iraq's financial situation is good and there is no obstruction or stoppage in contracts and implementation," explaining that "Iraq is rich in its wealth and energies and all it needs is wise management of money."
 
He continued, "We suffer from the problem of unfair US Treasury sanctions against 14 Iraqi banks without prior warning," indicating that "obligating Iraq to cover its foreign transactions through the platform and punishing a large number of its local banks are among the most important reasons for the continuation of the dollar crisis and the creation of the parallel market."
Al-Atwani expressed his "hope that this meeting will be a starting point towards a new stage of cooperation, understanding and assistance in addressing the problem of US Treasury restrictions and procedures on the financial and banking sector."