Central Bank: US Treasury restrictions are still imposed on Iraqi banks

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Central Bank: US Treasury restrictions are still imposed on Iraqi banks

On Monday, Ahmed Barihi, a Central Bank board member, confirmed that the US Treasury’s political restrictions on Iraqi banks would continue.

Brehi has stated in a recent statement that the measures undertaken by the Central Bank of Iraq and the Ministry of Finance have helped ease the crisis caused by the rise in the Iraqi dinar’s exchange rate against the dollar. Brehi also mentioned that the US Treasury continues to impose restrictions to prevent the dollar’s exchange rate from falling for political reasons.

According to him, the decline in the dollar exchange rate against the Iraqi dinar is still connected to the US Treasury’s easing restrictions on Iraqi banks, even though Iraq has complied with the US Treasury Department’s conditions.

Central Bank board member Ahmed Brehi stated that easing restrictions is linked to US Treasury decisions about certain countries, including Iraq.

“He emphasized that the Central Bank and Ministry of Finance are not facing any cash liquidity issues as the Central Bank can provide it regularly. Anyone suggesting otherwise is ignorant of monetary policies.”