Washington stopped pumping Iraqi Central Bank funds to prevent the arrival of dollar
Washington stopped pumping Iraqi Central Bank funds to prevent the arrival of the dollar's "enemies"
11/3/2015 0 Comments
US and Iraqi officials announced that the US Federal Reserve board, "central bank" and the US Department of the Treasury temporarily stopped the flow of billions of dollars to the Central Bank of Iraq this summer, in light of mounting concerns that the currency ends on Iranian banks and may seep into the organization "Daash", according The newspaper "Wall Street Journal" reported. The newspaper said - in the context of a report published Tuesday on its website: "The move to stop shipments of money paid Iraqi financial system to be on the verge of a crisis and represented the summit to avoid the flow of dollars to the efforts of the enemies of the United States."
The newspaper added that the situation highlights the important face of US long-term battle against terrorism, as is concerned military officials on the fall of American arms in the hands of the enemies, the financial officials are looking around the world to prevent the arrival of dollars into the hands of enemies who might use them to finance their activities.
According to US and Iraqi officials and people familiar with the case After it this summer, Iraqi officials agreed to develop a more assertive on the distribution of US dollars restrictions by the Central Bank of Iraq, the flow of dollars back, but under the supervision of the best.
According to the person familiar with the case, the problem dates back to the end of December last year when he called on officials of the Federal Reserve and the Treasury Department the Americans to a secret meeting in one of Istanbul hotels with Iraqi officials, who expressed Americans for discomfort due to the increasing volume of dollars that are shipped to Iraq and the lack of clarity on the place where the money ends.
The paper that since the US overthrow of Saddam Hussein and to assist them in the establishment of the Central Bank of Iraq in 2004, the dollar generally has become in the main currency in the country due to the fact that many aspects of the economy depend on the dollar, and when Iraq needs more than paper currency, the money comes from the country's account in the US Federal Reserve Council with funding from the oil reserves in general and pumped to Baghdad.
It is noteworthy that the amount of money flowing into Iraq is increasing in recent years, as it is in the 2014 annual flow of funds US from Federal Reserve Bank of New York to Iraq 66.13 billion, or more than three times the amount in 2012, which was 85.3 billion dollars, according to data collected by the Iraqi parliament and it is seen by the newspaper.
The focus of US concerns about some 2,000 exchange companies and Iranian banks subject to sanctions actively involved in the Auctions America selling dollars in exchange for Iraqi dinars organized by the Central Bank of Iraq, where US officials believed that many of those Iraqi companies have links to al "Daash."