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Iraq PM's Washington Visit Aims to Resolve 'Dollar Crisis'

Iraq PM's Washington Visit Aims to Resolve 'Dollar Crisis'

Tuesday, 24 January, 2023 - 09:00
Iraqi Prime Minister Mohammed Shia al-Sudani is seen during the launch of the food basket program. (Iraqi prime minister's office)

Iraqi Prime Minister Mohammed Shia al-Sudani and Foreign Minister Fouad Hussein are preparing to visit Washington separately to discuss two main issues: the dollar crisis and the “strategic framework” agreement between Baghdad and the US.


While Hussein is slated to visit the US late next week, he announced that Sudani would also visit during the coming period.


Hussein’s visit was initially planned to discuss the “strategic framework” agreement, especially amid renewed calls for the withdrawal of foreign forces from Iraq, but the recent dollar’s rise against the Iraqi dinar has changed the agenda of his trip and that of the PM.


On Monday, stressed affirmed that the government was interested in raising the value of its national currency against the dollar.


Aide to Sudani, Hussein Allawi told Asharq Al-Awsat that “Iraqi-US relations are moving towards an advanced level in cooperation and partnership in light of their strategic framework agreement.”


“Upcoming visits to the US by an Iraqi government delegation and Sudani clearly confirm that there are paths aimed at strengthening this relationship through discussing relevant files,” explained Allawi.


Moreover, he revealed that Iraq would discuss common visions in promoting mutual investments.


Iraq is seeking to boost investments and contracts in the field of rice, power plants, renewable energy, the financial sector, and American commercial products.


Sudani’s visit to Washington coincided with his decision to dismiss Central Bank Governor Mustafa Ghaleb Mukheef and Salem al-Jalbi, Director of the Trade Bank of Iraq (TBI) following a weekslong plunge of the dinar.


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