State of Law MP Firas Al-Maslamawi confirmed today, Tuesday, that the Federal Bank’s measures were the main reason behind the continued shortage of financial liquidity, calling on the Ministry of Finance to find alternatives.
Al-Maslamawi told Al-Maalouma Agency, “Iraq is not poor and has many resources, but there is a problem in delivering the oil sales money that arrives after three months through the Federal Bank.”
He added that “the means of delivering the dollar and its restriction by the Federal Bank cast a shadow over the creation of liquidity in the Ministry of Finance,” noting that “the external liquidity file requires a high-level government effort in order to resolve this issue and increase the quantities of dollars flowing into Iraq.”
He stressed the need to “transform into agreements similar to the Chinese accounting agreements, providing services in exchange for oil, to dispense with the dollar,” stressing that “the US Federal Reserve is still imposing its conditions on Iraq to pressure the parallel market.”
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