Economist: Borrowing from Gulf states threatens financial and political decision-making in Iraq
Economist – Borrowing from Gulf states threatens financial and political decision-making in IraqThe economic expert, Faleh al-Zubaidi, warned on Tuesday of the dangers of Iraq continuing to borrow from countries he said interfere in its internal affairs, explaining that this could affect the country’s financial and political decisions.
Al-Zubaidi told the Information Agency that “Iraq suffers from the absence of an independent monetary policy, which makes its economy vulnerable to external influences,” adding that “the United States has a clear influence on the management of the Iraqi economic file.”
He added that “borrowing from other countries may be accompanied by the imposition of undisclosed conditions that allow those countries to interfere in financial and even political matters,” noting that “monetary decision-making in Iraq has become devoid of independence and is affected by external factors.”
He stressed that “rebuilding an independent monetary policy is essential to protect the Iraqi economy from any potential foreign interference.”
Earlier, former MP Raed al-Maliki warned of the repercussions of the government’s efforts to establish an Iraqi sovereign wealth fund with potential funding from some Gulf states, considering this step a reflection of the magnitude of the financial crisis facing Iraq and one that could restrict its sovereign decision-making.
Almaalomah.me