On Saturday, a member of the House of Representatives named Muhammad Saadoun al-Sudani accused the United States of fabricating the crisis of rising dollar prices in Iraqi markets. He also warned violators of the government’s instructions about a big conspiracy.
During an interview with Al-Maalouma agency, Al-Sudani stated that the current crisis of high dollar exchange rates in Iraqi markets has been fabricated by America. He further explained that Washington is attempting to apply a lot of pressure on the current government.
He stated that the Prime Minister’s decision to cap the exchange rate of the dollar at 132 thousand dinars for every 100 dollars was an attempt to address the escalating inflation. However, the continued rise in prices in the market suggests that there may be a significant conspiracy at play.
Al-Sudani has promised to take strict actions against those who do not follow the government’s instructions regarding dollar prices. This is to deter violators and hold them accountable for their involvement in the crisis of high exchange rates in the local markets.
Abdul Rahman al-Mashhadani, an economist, recently voiced his criticism of the United States’ economic policy towards Iraq. He pointed out that the US allows Gulf countries to engage in foreign trade with penalized nations using US dollars, while simultaneously preventing Iraq from doing the same. This duplicity is a cause for concern according to al-Mashhadani.
Last week, the US Treasury made a decision to halt the trading and selling of hard currency for 14 Iraqi banks. The increase in demand for the dollar caused its exchange rates to rise in local markets.